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Maintenance Strategy Optimisation: Uniting Reliability Principles and Data Science for Significant Savings

Energy and resource companies manage extensive asset portfolios with thousands to hundreds of thousands of critical equipment. Amidst COVID-19, many businesses were forced to find innovate ways to cut costs while ensuring safe & reliable production was still met.

In this session, we will explore how Woodside, Australia’s leading oil and gas operator successfully reduced thousands of maintenance hours and banked savings by optimising maintenance strategies.

We will dive into the innovative maintenance strategy review tool that was developed in-house, utilising diverse data sources and applying fundamental reliability technique. This approach quickly pinpointed over, under and incorrectly maintained equipment, facilitating targeted reviews for data-driven decision making.

In this session we will explore:

  • How reliability fundamentals and data science can be united to realise significant saving  
  • The effectiveness of a minimum viable product (MVP)for quick wins
  • Deep dive into the strategy review tool & how we achieved rapid business integration and sustained value delivery
  • Future plans and application advancements

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Shereya Parashar
Shereya Parashar

Reliability Engineer

Woodside Energy

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20 March 2024

Esplanade Fremantle, Perth

See you there!