Keywords: plant asset operations, sustainable development, corporate sustainability, triple bottom line, TBL, oil and gas industry, performance assessment, performance evaluation, sustainable asset performance
Translating sustainability concerns at plant level asset operations: industrial performance assessment
The global society is threatened by the amount of plant level asset exploitation needed to satisfy the growing energy demand. The availability of a plentiful and affordable supply of energy is a requirement for the economic and societal pillars of sustainable development. In this context, the oil and gas industry will play a major role in the global energy mix for many years until alternate sources of energy become available and economically viable. During this transition period, the oil and gas industry has a vital responsibility for managing asset operations at the plant level safely and economically whilst minimising the burden to society and the environment. This manuscript reviews current trends toward sustainable asset performance. It also presents a framework and a model for implementing the framework. The suggested model enables industrial practitioners to assess the gaps between corporate level sustainability concerns and plant level execution of them.