The report is based on a survey of more than 1,000 senior professionals and reveals a significant shift in the perception and prioritization of maintenance, particularly in the context of environmental, social and governance (ESG) criteria.

Key findings include that 88% of respondents expect maintenance budgets to increase over the next five years and 75% say the requirement to report on environmental performance has led to increased investment in maintenance. In addition to the increased focus on environmental performance, improving safety (78%) and reducing fire risk (76%) were cited as key drivers of maintenance strategies.

The report highlights the critical role of maintenance, particularly corrosion management, in ensuring the safety, profitability and environmental sustainability of oil and gas operations. However, three-quarters of senior decision makers in the oil and gas industry (74%) said that maintenance budgets are the first to be cut when cost savings are needed. This paradox highlights how difficult it is for those responsible for maintenance strategies to plan.

“Effective maintenance is no longer just a technical issue; it is a strategic imperative that impacts every aspect of the industry’s operations, from safety to environmental sustainability,” said Ekaterina Mezhentseva, Global Solutions Manager at Jotun. “Our report clearly shows that the industry is moving towards greater investment in maintenance, driven by the need to meet ESG criteria and ensure long-term operational success. However, budgets must be future-proof to enable effective long-term maintenance planning.”

The report also highlights the importance of knowledge sharing and improving competence in corrosion management and suggests that companies can improve their internal capabilities through external partnerships and third-party support.

In fact, the survey data revealed that one in four (24%) oil and gas asset owners outsource all maintenance to third-party providers. Only 6% of the companies surveyed perform all maintenance themselves.

“We are confident that this report will provide valuable insights that will enable the industry to understand the importance, impact and investment of corrosion management,” added Ekaterina. “Our long-term commitment to supporting the industry by providing high-quality corrosion management solutions and expertise enables oil and gas operators to improve the safety, reliability and profitability of their operations.”

Read the latest issue of World Pipelines magazine, featuring pipeline news, project reports, industry insights and technical articles.

World Pipelines’ August 2024 Issue

The August 2024 issue of World Pipelines includes a main section on pipeline project management, as well as technical articles on inspection, condition assessment, maintenance and surface preparation. We also cover OT software, CO2 and hydrogen pipelines, and pipeline construction topics.