Increased Profit and Technical Condition Through New KPIs in Maintenance Management

With the onset of Statoil Technical Efficiency Programme (STEP), a significant strategic focus has been allocated in Statoil with the purpose to reduce costs and increase productivity. In addition, the Oil and Gas industry has through the research activity Integrated Planning (IPL) developed frameworks and is related to the ISO 55000 standards for Asset Management. The purpose for IPL is to plan for technical condition which requires participation from several disciplines in production such as maintenance, production and logistics. In particular the key performance indicator (KPI) denoted as Profit Loss Indicator (PLI) is an essential tool for IPL. The core of this KPI is to measure the “hidden factory” through a financial number. In this article the “hidden factory” will comprise both time losses and waste in production. The aim of this article is to demonstrate PLI as a case study within the O&G industry for technical equipment. The result in the case study is an evaluation of the existing maintenance programme at Statoil and different strategies for updating the maintenance programme. Furthermore, PLI is evaluated for how it can be implemented within Asset Management.