The Impact of Corrosion on the Oil and Gas Industry

The oil and gas industry is responsible for just over 10 million jobs here in the United States and brings in around eight percent of the country’s gross domestic product. As hundreds of billions of dollars are invested in this industry every year, it is important to protect those working in the field, as well as the equipment, from unexpected loss or damage. Corrosion is a sneaky little element that can be blamed for over 25% of the failures that occur within the oil and gas industry.

The Damage of Corrosion

What you might see as a bit of harmful rust can have a massive, devastating impact on the integrity of the materials and equipment of one of the nation’s largest industries. Whether it is found in the refineries, in production lines, during the drilling process, or riding along with elements of transportation, implications of corrosion estimates to around $1,372 billion a year. Much of this is found in damage to surface pipelines and facilities (around $589 million), with another $320 million relating to capital expenditures to address the impact of corrosion.

The Solution for Corrosion

Although the industry relies on different equipment types (such as an anodizing tank) to protect the integrity of specific contents, there are other factors that can help mitigate the damage that rust and corrosion can do. As new material combinations continue to develop, equipment will need to be upgraded to add additional protections. The impact of the process also contributes to the presence of corrosion, and both protective coatings and inhibitors need to be used together to alter the environment to be more rust-resistant.

Billions of dollars are wasted each year as a result of the damage corrosion does to the oil and gas industry. More extensive research in anti-corrosion operations and materials can help improve both efficiency and financial stability for the industry and those companies dealing with the natural decay of metals.

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