Global Total Maintenance & Asset Integrity Management Summit 2021

COVID-19 impact on the Global Asset Integrity Management Services Market 17–18–19 May 2021 Join us in Amsterdam OR Webinar

The pandemic has impacted several industries across the world, and the oil & gas industry is no exception. The global petroleum product consumption decreased significantly due to travel restrictions and economic slowdown. The crisis in the oil & gas industry has substantially impacted several workers and communities who are dependent on its revenues. The industry players are struggling with the oil price war, declining demand, business stability, and employee safety, and need to focus on developing a flexible business model, which can lead to long-term resilience.

The demand for electricity from the industrial sector has been reduced significantly due to the COVID-19 pandemic. Governments across the world were compelled to reduce business activities in response to the virus outbreak. Plant-wide asset inspection and repair work is on hold and mostly in favor of high-priority production-related assets only. The current COVID-19 strategy of mitigation through working at home and social distancing is resulting in a growing backlog of inspection and maintenance work. Moreover, the situation is forcing asset inspection management services providers to perform critical asset inspections with fewer personnel. However, the adoption of key digital strategies such as remote inspection and remote collaboration is expected to help organizations to maintain safe and productive assets

https://www.epc-shutdown-turnaround-maintenance.com/asset-integrity-maintenance-2020