January 26, 2016 by AP-Networks Leave a Comment Cost efficiency is a major focus of any asset-intensive undertaking. In the case of downstream oil and gas turnarounds, minimizing the turnaround costs is typically one of the key objectives governing turnaround planning and execution. But in the case of upstream shutdowns, cost efficiency takes on a different form. Rather than minimizing costs during the event, the driving focus becomes minimizing the schedule in order to lessen the impact of lost profits. Often times, this means spending more during the event in order to keep to the schedule estimate. In short, while downstream turnarounds are cost-driven, upstream shutdowns are schedule-driven. However, in both cases, the focus is on cost efficiency—especially now, with low oil prices. When you’re executing an upstream shutdown, how do you balance the challenge of spending more to save more, and where do you draw the line on event spending? We’ll be discussing this topic on Thursday, March 23rd at the Turnaround Industry Network Conference (TINC) Europe. TINC Europe is the premier symposium for sharing best practices to deliver safe, event-free, predictable, and competitive outcomes. Register now, and add your voice to the conversation.