Offshore oil and gas organizations lose an average of $49 million a year to unplanned downtime, and operators with the worst track records see that climb past $88 million annually.[Source] Unlike factory floors, downtime here carries a safety dimension most industries don’t share: Unplanned downtime in oil and gas creates more than a productivity challenge. Equipment failures, emergency maintenance activities, and unplanned operational disruptions can increase safety risks for workers and contractors. OSHA data shows thousands of severe injuries have occurred in the U.S. oil and gas extraction sector in recent years. [Source]
