GIE helping to facilitate operational and late life activities
Asset information due diligence

Importance of good asset information and processes

Good asset information and processes unlock considerable value:

  • Improved safety
  • Reduced spare parts cost (typically 10 – 15%)
  • Lower OPEX (typically 2 – 2.5 M$ per year for an offshore asset)
  • Reduced inventories (typically 15 –20%)
  • Reduced risk and downtime

Understanding the status of asset information is critical

For the buyer of an oil & gas manufacturing asset – offshore or onshore – understanding the status of asset information is critical for:

  • A smooth and secure takeover of assets and incorporation of asset information into buyer systems
  • Specifying required initiatives and costs for integration
  • Evaluating the relevance and value of physical inventory stock / spare parts for the asset
  • And as an input to technical due diligence of the asset

Asset information's objective

Affiliates of the GIE can facilitate asset information due diligence on such assets with the objective of:

  • Understanding the status of asset information and related systems / processes – with a red flag focus
  • Proposing key initiatives to lift asset information to a recommended level – indicating required time and cost
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