By Sphera’s Editorial Team | May 28, 2020

Advancing the Progression to IRM 4.0 - Moving Beyond Concept - ORM Digital Twins to Support Business Continuity and Weather Future Oil & Gas Storms

Next Generation Operational Excellence Digital Twins to Support Business Continuity and Weather Future Oil & Gas Storms

Being sustainable and resilient has always been key for Oil & Gas companies – but now it’s more important than ever. Operators are working to strike the right balance. Leaders are addressing the short-term situation by keeping plants running to meet the critical needs of society while developing new capabilities and ways of working that will adapt to longer-term changes.

Safety is a key consideration to achieving continuity of critical plant operations. In 2018 – following the last oil and gas downturn, industry leaders cautioned, with 72% of senior leaders believing, the oil price downturn had a moderate to significant effect on process safety risk.

Now in 2020, with the low oil price and reduced production as a result of the COVID-19 interruption, operators are focusing heavily on maintenance to reduce their safety-critical backlogs to enable safer, more efficient, and competitive operations. Operators that have implemented digital Operational Excellence strategies are taking advantage of solutions to simulate asset performance in live operations and see the risk impact of equipment health, planned maintenance work, isolation, process safety risk, and more.

Learn how two major oil and gas operators are using Sphera’s Operational Excellence Digital Twin Control of Work software to deliver a proactive view of risk and improve operational efficiencies and asset reliability.

Register to view the on-demand webinar.