Earth is our most important asset!

asset integrity
gas
oil
asset management
When it comes to climate change, this is the decade of truth. Without taking additional measures, temperatures on earth will rise exponentially. The expectation is that global energy use will increase by 20 to 25% in the next 15 years as a result of population growth and economic development. Industries are under pressure to improve their energy efficiency, to use more sustainable energy sources and to reduce emissions. Carbon pricing is based on the principle that the polluters themselves are the ones who pay, and it is an integral part of (inter)national mitigation strategies. In order to decrease reliance on fossil fuels, efforts are also being made to further develop renewable energy generated from wind, geothermal heat, the sun and water. By 2025, it is expected that onshore wind and solar energy will be the cheapest forms of energy, and that fossil fuel use will have already peaked. WHAT IS THE PROBLEM? From an asset management perspective, we can argue that the earth is our most important asset and should therefore be carefully managed. Climate change is one of the major threats to earth. Rising global temperatures are a given, and the consequences if we fail to take action are...
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The long-term asset replacement plan? – What is it and what is it used for?

industry
oil
refinery
Insufficient control over capex? Unexpected major expenses? The sentence: “that will definitely last another 10 years?” These are all good reasons to consider preparing a Long-Term Asset Replacement Plan (LTARP). I would like to use my contribution to this blog to explain what the LTARP is and what it is used for. THE LTARP IN A NUTSHELL A Long-Term Asset Replacement Plan (LTARP) gives you an insight into the condition and degradation of your installations and, as such, the overall life and expected replacement period of assets. It also forms the basis for investment plans. If you link a replacement value to the life of an installation, it immediately becomes possible to visualize the investments necessary in the years ahead. The LTARP results in a long-term investment plan, substantiated by a knowledge of systems, the market and employees. APPROACH After identifying critical assets, the following will be recorded for each asset individually: Current preventive maintenance. If preventive maintenance tasks replaces an item immediately and in full, the asset in question falls outside the scope of the LTARP; The level of replacement costs. If the replacement value is lower than the investment threshold, the asset in question will not be relevant...
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