ISO14224 – Rocket Fuel to Launch Predictive Maintenance

In November 2018, Lloyd’s Register released a report on predictive analytics, which found that 57 of the world’s top 100 oil and gas firms are using, or have plans to use predictive analytics.

The report also found that those using predictive analytics are benefiting by US$325,000 per rig using machine learning to predict drill-bit locations, while companies in the eastern US are also saving costs of US$7 million on gas pipelines by predicting failures.

To predict the future, though, we must look to the past, and large amounts of historical data are required. The good news here is that safety protocols and remote monitoring at refineries and offshore facilities already capture large amounts of data from sensors. 

This data is input into a machine learning platform, which is ‘trained’ to predict problems before they arise. Though, with millions of dollars at stake for individual operators, being able to trust the technology to monitor plant efficiently is vital.

True predictive maintenance (PdM) requires historical sensor data to be merged with structured historical maintenance records. Done correctly, this will provide the complete picture, allowing the solution to predict and warn about issues and faults well in advance.

When properly trained, such a solution can become invaluable in increasing efficiency in maintenance planning, improving and reducing costly downtime.

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To ensure best results and accelerate uptake, a PdM solution must easily integrate with common oil and gas ecosystem applications including; data historians, real-time sensor feeds, CMMS and mobile field service apps.

Meanwhile, just as the collection and storage of personal information has seen considerable regulation in recent years, there will be a significant drive to ensure compliance with standards such as ISO14224:2016 as the industry becomes more data-centric [Link].

The standard seeks to standardise international taxonomy for the collection of equipment reliability and maintenance data. The more widespread the ISO is adopted, the smarter the predictors become.  

To learn more about how Spartan can help implement ISO14224 data capture and predictive maintenance solutions across your assets, please get in touch.