Benefits of Buying New Oilfield Parts, Tools & Equipment in Oil and Gas Industry

The oil and gas industry is booming at $2.1 trillion. It is also one of the most competitive industries, and staying ahead heavily relies around investing in and maintaining oilfield equipment and parts. In such a big industry you can bet that the stakes are high, and everything comes down to getting the most value out of your equipment. These astonishing huge machines are subject to corrosion and wear and tear. That is why taking care of the machinery is essential not only for optimizing your profits but also ensuring overall safety of everyone involved in the extraction process, which is by its very nature incredibly difficult. Here are some of the benefits of buying new oilfield parts, tools and equipment.

Raising the level of safety

The oil and gas industry is a booming industry for a reason, because extracting oil is an incredibly difficult task which takes a lot of sophisticated equipment to be run in perfect working conditions and operated by highly skilled professionals. The risks arise because the extraction, refining and production of petroleum occurs in some of the most ruthless and unstable working conditions. It is all far too common to see degraded materials, energy leaks, inconsistent power outputs, erosion and cracking etc. These risks directly affect the people in the front lines who operate the sophisticated and expensive machinery and in order to minimize risks of injury or even fatality for them it is important to consider buying new parts or even entire equipment pieces.

New parts keep everything secure

Big oilfield disasters look like they happen spontaneously and out of the blue. However, this couldn’t be further from the truth. In fact, most disasters in this extremely demanding industry are caused by tiny issues which are usually related to a single part that is malfunctioning. It is a common occurrence that fluid pumps suffer damages because of their fluid ends which are faulty. The entire system can collapse and create costs worth millions of dollars, not to mention that malfunctioning parts immediately put the workers at risk of fatal injuries. That is why you should definitely consider upgrading your fluid equipment parts, which will ensure that you put a stop to a potential catastrophe before it happens.

Reduced costs

The oil and gas industry generally suffers from heavy expenses that go into extracting valuable oil and its further production. However, that is the nature of this business and companies are already investing their money into making the process even more efficient. However, what is often overlooked are the potential warning signs which could point to a bigger catastrophe in the making. A study has found that technicians who work on the expensive drilling machinery spend around 80% of their time simply conducting reactive maintenance, which means that they are losing a lot of valuable time and resources dealing with rather unpredictable, risky and volatile issues with no real warning signs other than the ones when it is already too late. These redundant costs could be heavily reduced, by investing in high quality oilfield equipment and frequently buying the crucial replacement parts. Which should be integrated in a standardized procedure following a schedule based on malfunction patterns and predicted equipment life-span.

Increased productivity

Productivity is one of the key factors which drives the profit for a company. However, productivity itself is also dependent upon several factors. But none so much as downtime created by system and machinery malfunctions. Operational efficiency can only be achieved if the tools which are the backbone of this industry are working flawlessly. This ensures that machine operators can work worry-free and with reduced stress, which will boost their productivity. It also helps the maintenance staff focus on preventing future issues rather than reacting to them. And it helps the managers handle the entire process more smoothly.

More sustainability

The oil and gas industry has a very difficult time operating in the public eye due to the environmental concerns which are more significant now than ever before. However, it is possible to optimize the work process and minimize energy leaks by considering new industrial equipment which is designed with sustainability in mind.

The stakes are definitely high in the oil and gas industry, and there is no room for error. Every detail matters, luckily the bulk of these details revolve around a single factor, using state of the art newly optimized equipment and parts. These new powerful tools come with several crucial benefits; raising the safety standards for everyone, preventing bigger issues, reducing expenses and boosting productivity as well as sustainability.