A novel global health index framework for asset prognostics and health management in the oil and gas industry

Abstract The oil and gas industry must remain efficient and flexible to navigate shifting market uncertainties in an era of increasing global energy demand. Ensuring the reliability and availability of oil and gas production systems is vital for meeting supply requirements at optimal cost and sustainability. Comprehensive engineering Prognostics and Health Management (PHM) approaches can significantly support these objectives. This paper introduces a novel Global Health Index (GHI) for monitoring and benchmarking production system health, serving as a foundation for big data to advance artificial intelligence and machine learning applications. The proposed GHI captures system-wide health requirements by integrating descriptive, diagnostic, predictive, and prescriptive analytics within the PHM framework. A hierarchical structure organizes sub-indices into units, systems, pillars, elements, and parameters, enabling an explicit decomposition of complex production systems. Six adaptable indicators quantify health and guide proactive management strategies at the parameter level. This comprehensive yet practical benchmark indicator provides real-time health monitoring and data-driven decision-making, enhancing system availability and efficiency. By identifying emerging issues and guiding timely interventions, the GHI improves reliability and supports sustainable growth in the oil and gas sector.