The report from Jotun reveals that the 88% of senior decision makers anticipate increased investments in maintenance over next five years.
The international paints and coatings manufacturer Jotun
has recently released a new report that highlights the growing strategic significance of corrosion management and maintenance operations for the oil and gas sector. Derived from a survey of over 1,000 senior professionals, the report reveals a significant shift in the perception and prioritisation of maintenance, particularly in the context of Environmental, Social and Governance (ESG) criteria.
Key findings include:
- 88% of respondents anticipate an increase in maintenance budgets over the next five years;
- 75% say that the requirement to report on environmental performance has led to increased investment;
- 74% declare however that maintenance budgets are the first to be cut when cost savings need to be made.
Furthermore, in addition to the increased focus on environmental performance, improving safety (78%) and reducing risks of fire-related incidents (76%) were mentioned as important drivers behind maintenance strategies.
“The effective maintenance is not just a technical issue anymore: it is a strategic imperative that impacts every facet of the operations within the industry, from safety to environmental sustainability. Our report clearly shows that the market is moving towards greater investment in maintenance, driven by the need to meet ESG criteria and ensure long-term operational success, but budgets need to be future-proofed to allow for effective long-term maintenance planning,” has explained Ekaterina Mezhentseva, the Global Solutions Manager of Jotun.
The report also emphasises the importance of knowledge sharing and improving competence in corrosion management, suggesting that companies can enhance their internal capabilities through external third-party partnerships and support. Indeed, the survey data revealed that as many as one in four (24%) oil and gas asset owners outsource all their maintenance to external providers, with as little as 6% of companies surveyed managing all maintenance in-house.
“We believe that this report delivers valuable insights, enabling the industry to understand the importance, impact and investment of corrosion management. Our long-term commitment to support the industry by delivering high-quality corrosion management solutions and expertise empowers oil and gas operators to improve the safety, reliability and profitability of their operations,” has concluded Mezhentseva.