(MENAFN- EIN Presswire) CS Event Management Hosts 2nd Edition of the Asset Integrity Management Conference in Qatar.
DUBAI, UNITED ARAB EMIRATES, May 19, 2023/einpresswire.com / -- Effective management of assets is crucial to ensuring safety, regulatory compliance, and productivity. However, striking a balance between these imperatives and the associated costs has become an ongoing challenge for organizations. Recognizing the growing importance of asset integrity, CS Event Management is organizing the 2nd Edition of the asset integrity management Conference, from May 23rd to 24th, 2023.
The event is being held at the City Centre Rotana, Doha, and brings together over 150+ experts from 100+ companies across various sectors, including oil and gas, energy, petrochemicals, heavy engineering, and utilities. With the goal of addressing the constant business challenges faced by asset integrity managers, the conference is set to explore strategies to balance the design, maintenance, and replacement of assets throughout their life cycle while optimizing financial resources, time, and manpower.
According to industry sources, the Asset Integrity Management Market was valued at USD 20.37 billion in 2021 and is projected to reach USD 30.42 billion by 2030, exhibiting a compounded annual growth rate (CAGR) of 4.8% during the forecast period.
As much of the oil and gas industry's infrastructure approaches or exceeds its operational life expectancy , the need to maximize the efficiency, safety, and economic viability of existing assets has become paramount. The Middle East region alone is home to between 700 and 800 operable offshore fixed platforms and bridges. It is worth noting that over 70% of these assets are operating beyond their intended lifespan, with some exceeding 40 years. To secure their long-term future, companies in the oil and gas sector must enhance the performance of their aging assets by adopting more efficient and technologically advanced asset integrity management practices.
The 2nd Edition of the Asset Integrity Management Conference is addressing key factors driving market demand for asset integrity management solutions across various industries. This includes the expansion of solution offerings among industry players, the rising adoption of cloud-based solutions, and the integration of digital dependency and Automation 4.0. Furthermore, the conference focuses on topics such as non-destructive evaluation for in-service inspection, remote monitoring techniques, risk mitigation, and reliability management, among others.
The conference will provide valuable insights to companies to make informed decisions regarding their aging assets. They will have the opportunity to explore options ranging from asset replacement to upgrades and more efficient maintenance practices, enabling them to extract the best value from their ongoing operations.Soumya Menon
CS Event Management
+971 565155469
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