Regulatory Compliance in Asset Integrity Management
When it comes to implementing a mechanical integrity management program to protect critical assets, one of the most essential factors to consider is regulatory compliance. Adherence to regulatory standards protects owner operators from costly fines or possible insurance benefit losses that may accompany failed audits. Further, it expands the profit potential of the organization by improving equipment reliability and reducing costly instances of critical asset failure.
Reduce Unplanned Shutdowns, Improve Profitability with Asset Integrity Management
The most financially damaging threats any plant, pipeline or refinery executive faces are those associated with unplanned shutdowns. The average refinery faces an annual risk of $25 million per year due to failures of static equipment.