In 2003, Marsh Insurance published a study of 100 accidents in petrochemical facilities that were caused by mechanical integrity failures. The average cost for physical damage alone was the equivalent of over $116 million in today’s dollars. The estimated costs became even more staggering when loss of production was added, not to mention the safety threat.

The petrochemical industry has come a long way since then, but mechanical integrity is still of vital concern for both safety and facility performance. Although piping failures account for a majority of these petrochemical losses according to the Center for Chemical Process Safety, applying the best practices of ensuring mechanical integrity to all your equipment and structures can save you money and prevent significant down time.

This includes considering how you can protect your investment in your temporary fabric structures by making sure they are installed correctly and regularly inspected.

Petrochemical businesses often purchase equipment as an investment for tomorrow. However, owning rather than leasing can be a cost that doesn’t pay off over time. 

When you own, you face many unpredictable expenses with maintenance, storage and transportation, making it difficult to determine the full cost of ownership. When you add in the cost of replacing obsolete equipment, you have to ask if purchasing is the right plan for your business.

When it comes to the oil and gas industry, every minute is devoted to the crucial details that help you get the job done right. Maintaining the reliability of plants involved in the oil and gas supply chain requires periodic turnarounds, where day-to-day operations are suspended, giving workers an opportunity to perform various maintenance tasks that cannot be accomplished while the plant is operational. These shutdowns are usually sizable projects executed under strict time constraints with severe financial impacts for project delays.