HOUSTON, March 7, 2018 /PRNewswire/ -- (CERAWeek) -- Azima, Inc. today released details of remarks delivered this morning by CEO Burt Hurlock at CERAWeek 2018 in Houston, TX. Azima is a tech-enabled services company that maximizes industrial productivity in the global Oil & Gas industry – one of 12 industrial sectors served worldwide by Azima.
This is the second consecutive year that Mr. Hurlock has been invited to address the distinguished annual gathering of global energy industry leaders, regulators, and policymakers. Mr. Hurlock's remarks this year were entitled: Big Data vs. Relevant Data: Choosing the Path to Big Results.
Mr. Hurlock challenged energy industry leaders to embrace advanced digital tools to simultaneously lower costs and improve safety. Specifically, he urged maintenance & reliability executives in the Oil & Gas industry to embrace an approach to Predictive Maintenance that relies heavily on remote analysis and diagnostics, made possible through the "Industrial Internet of Things."
According to Mr. Hurlock: "Cloud-based vibration analysis can literally predict major equipment failure weeks and months in advance. Unplanned maintenance costs and unexpected safety incidents can and should be reduced to zero. It's not a question of analyzing big data – what matters is isolating, analyzing, and acting upon relevant data."
Hurlock also shared the results of Azima's 2017-2018 Uptime Management Survey, which attracted more than 60 respondents from the Oil & Gas industry. More than 92% of Oil & Gas respondents said that the maintenance of capital assets is "important," but only 36% are satisfied with their company's current approach.
Not coincidently, only 36% of Oil & Gas respondents say they have adopted Predictive Maintenance as their primary approach to asset maintenance and reliability. 38% rely on the much-costlier Preventive Maintenance paradigm. An astonishing 26% admit that they embrace "Run-to-Failure" as their primary maintenance strategy – an approach that is not only exorbitantly expensive, but extremely dangerous as well.
Hurlock called upon the Oil & Gas industry to abandon expensive, unsafe, and outmoded approaches to machine maintenance, and embrace cloud-based Predictive Maintenance technologies instead.
According to Hurlock, "the Oil & Gas industry no longer has to choose between safety and cost when it comes to condition monitoring. The right approach lowers cost and improves safety."
Hurlock acknowledged the existence of barriers to accelerating adoption of Predictive Maintenance in the Oil & Gas industry. However, he added: "The hurdles are neither technological nor financial. The technology is proven, and the cost is affordable."
According to Hurlock, the primary barrier-to-adoption is weak, decentralized executive leadership on the issue. Instead, Hurlock urged audience members to practice what he called "the 4-Cs" successful Predictive Maintenance:
About Azima
Azima maximizes industrial productivity on a global scale. When Azima clients have capacity, they can sell it. They're serious about uptime, and rely on Azima to maximize it.
Azima delivers programs & results, not parts & pieces. We combine the efficiency of algorithms, the accuracy of data, and the judgment of experts. Azima gets results, and we do it at scale.
No one maximizes industrial productivity in more industries and places than Azima. We cover 100,000 assets in dozens of countries, on every inhabited continent. We even handle stuff on the oceans.
Azima is headquartered in Boston, with locations and experts across the Americas, Europe, the Middle East, and Asia. For more information, please visit www.AzimaGlobal.com.
About CERAWeek 2018
CERAWeek by IHS Markit is the premier annual international gathering of energy industry leaders, experts, government officials and policymakers, leaders from the technology, financial and industrial communities – and energy technology innovators. 2018 marks the 37th anniversary of the event, produced by business information provider IHS Markit.
CERAWeek 2018: Tipping Point: Strategies for a New Energy Future is being held in Houston, TX, from March 5-9, 2018. The conference will examine the changing dynamics of the energy markets, the impact of technology, government policies, the environment, and the global economy and explore strategies to navigate the opportunities and challenges ahead for energy.
Richard Cellini
Vice-President, Marketing
Office: 781-938-0707 x1035
rcellini@azimaglobal.com
www.azimaglobal.com
SOURCE Azima, Inc.