AP-Canada launches its second Oil Sands benchmarking study to uncover cost performance trends, chart the impact of market conditions, and help sponsors prepare for an upcoming era of high complexity Oil Sands turnarounds
CALGARY, Alberta, Sept. 13, 2016 /CNW/ -- Asset Performance Canada (AP-Canada) has launched Phase II of the Oil Sands Turnaround Cost Performance Study. During the Phase I study undertaken in 2014, AP-Canada was able to identify controllable and uncontrollable cost drivers for Oil Sands turnarounds, and quantify the cost gap between Oil Sands turnarounds and the rest of Industry. The study showed that Oil Sands turnaround costs are in a class all their own, coming in 50 percent higher than costs for the rest of Industry in Alberta, and more than 80 higher than costs in the US Gulf Coast.
The market conditions facing the Oil Sands industry today are much different than they were two years ago as a result of the rapid decline in oil price that took place in late 2014. The Phase II study will look at the effect this business landscape has had on cost performance.
Through the firm's ongoing work with Oil Sands operators, AP-Canada is already aware that many companies have deferred turnarounds in order to maintain revenue streams and postpone large outlays. These postponed turnarounds are fast approaching, and they will be larger and more complex due to being put on hold. The information uncovered in the Phase II study regarding cost drivers will help Oil Sands operators better prepare for these upcoming events.
If you'd like to learn more about the Oil Sands Turnaround Cost Performance Study, and how to take part, download the study prospectus here. You can also contact AP-Canada consultant Ryan Egli at firstname.lastname@example.org for more information.
About Asset Performance Canada
Asset Performance Canada, an affiliate of Asset Performance Networks, is the trusted leader for improving asset and operational performance in petroleum, chemical, energy, and asset-intensive companies throughout Canada. The firm's empirically driven solutions are a powerful hybrid of Software as a Service (SaaS) and consulting expertise that generate measurable results. Since AP-Canada was founded, the company has focused on bringing predictability and competitiveness to high-risk events—namely, capital projects, turnarounds, outages, and overhauls. Industry leaders not only recognize the Asset Performance brand, they insist on the company's involvement in their most critical improvement initiatives. For more information on AP-Canada, please visit http://www.ap-canada.ca.
Contact: Nick Mercurio, email@example.com
SOURCE Asset Performance Canada, ULC