Industry survey reveals 43% of experts believe scope creep is their biggest source of STO overruns

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Posted: 01/09/2018

With 2018's economic outlook looking unstable, the role of STO strategy in protecting slim margins for onshore and offshore assets is continuing to increase.

Ahead of the 15th Annual Shutdowns and Turnarounds Summit, Oil & Gas IQ surveyed over 2000 members of the STO community to gain a deeper understanding of how the sector is continuing to move forward in challenging market conditions; as well as new opportunities and trends for the coming years.

This survey revealed that STO strategy is increasingly focusing on extending the period between shutdowns, or advising small, targeted periods of maintenance. Qualified STO managers are also becoming a scarcer commodity, so ensuring the right knowledge and experience is transferred and shared is key to delivering long-term operational excellence.

Respondents also highlighted that technological innovations provide value-add opportunities in the planning and implementation process, with digital transformation and automation a priority for STOs.

This exclusive research has been collated into a complimentary infographic ‘Delivering Effective Shutdowns in a Challenging Environment’ which is free to download here

These answers will form the basis of discussions at the 15th Annual Shutdowns and Turnarounds Summit (12-13 February 2018, Amsterdam). Senior STO leaders within the oil and gas, nuclear, wind, metals, coal and petrochemicals industries including MOL, Wintershall Norge, Lukoil, GUPCO-BP JV and TWPL will discuss the tools and strategies organisations need to enhance, refine and realign their TAR strategy to deliver operational efficiencies in this challenging environment.

For more information or to reserve your place visit the website here, call +44 (0)207 036 1300 or email enquire@oilandgasiq.com.

Press are invited to attend this important industry forum. If you would like a complimentary press pass please email Nishkala Thiru

By:
Posted: 01/09/2018