April 2011

Project Management

How to properly apply a plant asset management strategy

Facilities employing leak-detection and custody-transfer systems receive many benefits with this program

Norinder, J., Siemens

In today’s tough economy, plant asset management (PAM) has become a strategy that is hard to ignore. If applied properly, every aspect of every business in every industry can be optimized. In doing so, however, it is crucial to take issues, opportunities and benefits of each individual business into account if the efforts are to yield fruitful results. When applying asset management to processing plants within the hydrocarbon processing industry (HPI), for example, the most appropriate approach varies depending on the application area and whether it is an upstream, midstream or downstream installation. An area where this is particularly relevant is at hydrocarbon terminals, tank farms a

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