Oil and gas facility assets have been designed, engineered and installed, then forgotten except when a failure or incident occurs. As facility assets age, 20, 40, 60, +… years, many modifications, replacements and additions have occurred. As time passes, few companies know the full extent of the changes with their assets due to replacements. Use of today’s software programs using cloud-based systems allows for a comprehensive inventory and management of these facility assets to meet the demands of today’s changing regulatory environment.

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