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Forrester Report: The Total Economic Impact of Asset Performance Management in the Oil and Gas Industry

Learn how Asset Performance Management (APM) provides cost savings and business benefits, with a five-year ROI of over 290%.

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Oil & Gas IQ
05/26/2023

Asset Performance Management

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Oil and gas operations are large-scale in terms of the volume of assets involved and the global expanse of their operations. The commonality of merger and acquisition activity and the various affiliate partnerships that round out the space further complicate the
asset landscape. Oil and gas organizations must surmount these obstacles to harness their collective asset monitoring and maintenance data, and inform processes and strategies that improve asset efficiency and reliability.

Forrester Consulting worked with GE Digital to conduct a Total Economic Impact™(TEI) study to examine the potential return on investment (ROI) enterprises may realize by deploying APM within the oil and gas industry. Forrester found that for a composite oil & gas organization (from upstream production and midstream transportation through to downstream refineries), APM measures can achieve an ROI of 292% and enables numerous cost savings and reliability benefits across your enterprise.  

Read the analyst report to discover how by deploying APM:

  • Users can avoid $26 million of revenue loss from reducing unplanned downtime 
  • You can extend the average asset lifetime by as much as 26 weeks
  • Improve your ability to meet regulatory and compliance standards and experience greater flexibility in resource allocation

Access analyst report here.

 

We respect your privacy, by clicking "Access the Article" you agree to having your details passed onto the sponsor who may promote similar products and services related to your area of interest subject to their privacy policy. You have the right to object. In addition, you will receive our e-newsletter, including information on related online learning opportunities. For further information on how we process and monitor your personal data, and information about your privacy and opt-out rights, click here.

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