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The rise of asset performance management

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Asset Performance Management (APM) is a discipline that has been growing in interest by many oil and gas operators around the world. Successful APM requires efficient flow of data across all activities that impact asset performance. For many years companies have functioned with departments working completely independently, in silos. This created inefficiency in the flow of data and information. The same data are typically added to multiple systems without the realization of its extensive potential. Information, which is here defined as post-processed data resulting in useful knowledge, only flows through specific departments, reducing its potential value.