COURSE OVERVIEW:

Spare parts strategy for rotating equipment in the oil and gas industry is a critical component of asset management that directly impacts plant availability and operational expenditure (OPEX). Given the remote locations and high downtime costs associated with oil and gas operations, having the right part at the right time is a matter of both economic survival and safety. This course provides a structured approach to identifying critical spares, optimizing inventory levels, and managing the supply chain for complex machinery like turbines, compressors, and high-pressure pumps.

The scope of this course includes the technical categorization of spares—ranging from "capital" and "insurance" spares to "consumables" and "commissioning" items. Participants will learn how to conduct criticality assessments using FMEA (Failure Modes and Effects Analysis) and RCM (Reliability Centered Maintenance) data to justify inventory investments. The coverage extends to the management of long-lead items and the development of preservation protocols to ensure that parts stored for years remain in "as-new" condition when needed for an emergency repair.

Furthermore, the training addresses the commercial and logistical challenges of the oil and gas sector, including vendor-managed inventory (VMI), spare parts interchangeability, and the risks of obsolescence. Attendees will explore the use of Key Performance Indicators (KPIs) to monitor inventory health and the role of digital transformation in tracking spares across global operations. By the end of this program, participants will be able to design a robust spare parts strategy that balances the need for high reliability with the financial mandate of minimizing working capital.

COURSE OBJECTIVES:

After completion of this course, the participants will be able to:

1. Explain the strategic importance of spare parts management in Oil and Gas.
2. Categorize spares into Insurance, Capital, Operational, and Consumable types.
3. Conduct a Machinery Criticality Assessment to drive inventory decisions.
4. Utilize FMEA data to determine required stocking levels for rotating assets.
5. Calculate "Reorder Points" and "Economic Order Quantities" for spares.
6. Develop preservation and storage standards for high-value rotating parts.
7. Manage "Long Lead Items" to minimize project and turnaround risks.
8. Evaluate the benefits and risks of Vendor Managed Inventory (VMI).
9. Implement a Spare Parts Interchangeability Record (SPIR) process.
10. Identify and mitigate the risks of technical obsolescence in aging assets.
11. Audit the physical condition of warehouse stock for readiness.
12. Use KPIs like "Service Level" and "Stock Turn" to measure performance.
13. Optimize the balance between inventory cost and downtime risk.
14. Ensure compliance with safety and environmental standards for part storage.

TARGET AUDIENCE:

This course is intended for Maintenance Planners, Reliability Engineers, Supply Chain Managers, Warehouse Supervisors, and Asset Managers in the Oil and Gas sector.

TRAINING COURSE METHODOLOGY:

A highly interactive combination of lectures, discussion sessions, and case studies will be employed to maximise the transfer of information, knowledge, and experience. The course will be intensive, practical, and highly interactive. The sessions will start by raising the most relevant questions and motivating everybody to find the right answers. The attendants will also be encouraged to raise more of their questions and to share in developing the right answers using their analysis and experience. There will also be some indoor experiential activities to enhance the learning experience. Course material will be provided in PowerPoint, with necessary animations, learning videos, and general discussions.

The course participants shall be evaluated before, during, and at the end of the course.

COURSE CERTIFICATE:

National Consultant Centre for Training LLC (NCC) will issue an Attendance Certificate to all participants completing a minimum of 80% of the total attendance time requirement.