maintenance

Compared to the US industrial average downtime ranging from 3% to 5%, the oil and gas industry’s estimated downtime ranges from 5% to 10%,indicating that improvement is needed in reliability and maintenance of facilities, equipment, and processes.

The market for subsea vessel operations in field development; inspection, repair, and maintenance (IRM); and subsea well intervention is expected to grow 63% during 2012 to 2016.

Douglas-Westwood expects 8% growth in offshore operations and maintenance (O&M) expenditure annually from 2012 to 2016. O&M are markets considerably less vulnerable to downturn than their capital‑led counterparts.