Abstract
Proper assets management and maintenance, especially equipment in the value chain of an organization, the failure of which leads to interruptions in the system and waiting in the production line, are very vital and of special importance in "equipment-oriented" organizations, including industries such as oil, gas, petrochemicals, steel, minerals, companies involved in the production and distribution of water, electricity, etc. Usually such organizations have a constant need to create an efficient and effective life cycle in order to achieve an efficient physical asset management system. The present study aimed to investigate the physical assets management in equipment-oriented industries with the equipment life cycle management (resource-based) view in oil and gas industries with a case study in an upstream oil industry company (namely North Drilling Company). For this purpose, first 15 criteria have been obtained based on literature review and research literature for evaluating the performance of physical asset management in oil and gas companies. Then, eight of the most important performance evaluation criteria were determined based on experts’ opinions and the fuzzy Delphi method, and in the next step, these criteria were weighted using the fuzzy SWARA method. According to the results, the most important criterion is the cost of maintenance and the least important is the cost of service-support. Finally, solutions are presented in the form of practical suggestions to improve the physical asset management system in this company.
Highlights
As one of the most important organizational assets, physical assets include financial, human, knowledge, and information technology assets that have four life cycle periods, namely acquisition, operation, maintenance, and retiring, which indicates the life of an equipment or a part from birth to the end of its life, in terms of the quality of operation of the equipment
The physical asset management system has been studied from two perspectives in the United Kingdom and Canada
A physical asset management system evaluation model is developed with an emphasis on the oil and gas industry and the Northern Drilling Company, as a leading company in the upstream oil industry, is investigated as the case study
Summary
As one of the most important organizational assets, physical assets include financial, human, knowledge, and information technology assets that have four life cycle periods, namely acquisition, operation, maintenance, and retiring (decommissioning), which indicates the life of an equipment or a part from birth to the end of its life, in terms of the quality of operation of the equipment (less down time and more up time). The physical asset management system has been studied from two perspectives in the United Kingdom and Canada. Jon Wood House follows the Life Cycle Management emphasizing low equipment cost (LCC) and increased equipment efficiency (up time). A physical asset management system evaluation model is developed with an emphasis on the oil and gas industry and the Northern Drilling Company, as a leading company in the upstream oil industry, is investigated as the case study
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