12 Asset management
Caribbean Petroleum Corporation Disaster – Image: CSB
Potential effects of the economic climate on asset integrity D
uring the current economic climate, when it comes to budgets,
allowing employees to work up to 86 hours a week compared to the 72 hours currently
of the changing economic factors currently present in the industry.
practically every facility owner and manager has the same dilemma: doing more with less. When faced
permitted. In addition to allowing changes to shift
Shortfalls in maintenance and asset integrity related activities are often highlighted in
with shrinking budgets, it’s tempting to delay general maintenance, repairs, inspections and other operating costs to
patterns, the US Nuclear Regulatory Commission also allowed US nuclear plants to delay some inspections. Hence, when
investigation reports as a leading cause of process safety incidents. Some contemporary examples are:
a future point where the budget available may be more favourable – or even postponing the tasks indefinitely.
there is a challenge to an operating budget, maintenance and integrity related tasks are often reviewed as an option for cost cutting.
Similarities can be drawn between the current economic climate with the economic crisis of 2008/2009 which saw budgetary constraints across the energy industry.
The major hazards for energy facilities are ever present – fire, explosion and the release of hazardous materials. All these hazards have the potential to cause a major process
• On 23 October 2009, a large explosion at the Caribbean Petroleum Refinery in Puerto Rico caused extensive damage to numerous petroleum storage tanks as well as damage beyond the refinery’s boundary. The incident occurred during the offloading of gasoline from a tanker ship to the tank farm. The tank being filled overflowed,
The COVID-19 pandemic has doubtlessly challenged operating budgets, but it has also had a direct impact on human resources. There have been reports of worker’s shifts being extended due to the pandemic, which in some cases have been extended to as
safety incident. The energy industry is a dynamic and rapidly changing industry but one with ageing infrastructure and increasing cost pressures as the available revenue from oil and gas sales declines. There is a risk that the dedication of resources towards asset
resulting in a vapor cloud release and subsequent explosion. One maintenancerelated cause was identified in the investigation report – a malfunctioning tank fuel gauge. The faulty equipment prevented workers from noticing that one of the tanks
long as 12 hours a day for two weeks,
integrity will be allowed to decline as a result
was overflowing before the fuel vapours
www.hazardex-event.co.uk
