Challenge

Across a portfolio of seven mature UK North Sea oil and gas assets, the customer was managing a planned maintenance burden of 390,000 hours annually, requiring 180 full-time equivalents. The objective was to reduce operational expenditure (OPEX), increase asset value—particularly for late-life assets—and improve maintenance efficiency without compromising reliability or operational integrity. An additional challenge was the scale of historical data stored in the Computerised Maintenance Management System (CMMS), which required detailed analytical review.

Solution

Lloyd’s Register (LR) Advisory deployed its proven Maintenance Optimisation service, applying a data-driven, risk-based methodology to streamline maintenance activity. The goal was to eliminate low-value tasks, better align activity with asset condition and reduce effort and cost without increasing operational risk.

Approach taken

The total maintenance workload was assessed across all seven assets. Nine key areas were prioritised based on their potential value versus the effort required:

  • Inspection
  • Production
  • Cranes
  • Explosion-proof (Ex) equipment
  • Fire and gas detection
  • Metering
  • Valves
  • Pumps
  • Motors

This allowed LR Advisory to focus effort where the greatest business impact could be achieved. Maintenance regimes were reviewed to identify inefficiencies and realign interventions with operational needs. Analytical modelling and expert review informed the development of revised strategies and improved resource planning.

Key activities & outputs

  • Comprehensive analysis of 390,000 hours of  planned maintenance
  • Identification of inefficiencies across nine priority areas
  • Reduction of planned workload by 145,000 hours
  • Revised maintenance strategies tailored to asset risk and operating economics
  • Improved forecasting for labour, spares and third-party resources.

Key client benefits

  • Nearly £15 million in savings across the portfolio
  • Clearer visibility of essential maintenance tasks
  • Elimination of low-value activity and associated risk
  • Reduced reliance on external vendors and spares
  • Greater agility in resource planning and execution
  • Freed capacity to accommodate higher-value work
  • Enhanced efficiency across labour, tools and scheduling
  • Better alignment of maintenance scope with actual asset condition.

Project outcome

The project achieved a 27% reduction in both planned maintenance hours and related OPEX. The total burden decreased from 390,000 to 245,000 hours, delivering cost savings of nearly £15 million across the portfolio

Conclusion

LR Advisory’s Maintenance Optimisation approach enabled the customer to lower OPEX, extend asset life and enhance performance without compromising safety. The project demonstrated scalability and adaptability across multiple late-life assets, delivering measurable and lasting results.

Impact on client's business & operations

The customer experienced immediate financial gains, reduced downtime and more efficient use of internal capacity. Maintenance activities became more targeted and condition-based, resulting in lower spare part 
consumption, fewer vendor costs and faster decisionmaking. The freed-up capacity enabled new, highervalue tasks to be delivered without increasing workload or cost.

Other applications

This approach is suitable for other asset intensive industries including energy, oil and gas and maritime. It is particularly effective for ageing or cost-constrained 
assets requiring leaner, condition-based maintenance practices.