According to recent studies, the total annual cost of corrosion in the oil and gas production industry is estimated to be $1.372 billion, broken down into $589 million in surface pipeline and facility costs, $463 million annually in down hole tubing expenses, and another $320 million in capital expenditures related to corrosion. Thus, every year corrosion costs the oil and gas industry billions of dollars in lost income and treatment costs.

Asset integrity & corrosion experts face many challenges when it comes to detecting and measuring corrosion. Finding effective corrosion protection solutions for operating facilities, pipelines and splash zone areas has long been a major concern to both design and corrosion engineers in offshore installations. Managing Corrosion under insulation is also one of the key challenges faced by the industry as it causes colossal damage to equipment & structures.

As a result, the question of how best to tackle corrosion is beset by both cost and technical issues.
With continual focus on reducing costs and extending the life cycle of assets, industries are now strategizing to develop various corrosion control programs which in turn would help them mitigate corrosion or detect possible corrosion growth leading. Processes like the Corrosion Performance Anomalies (CPA) approach and applications of Fusin Bonded Epoxy coatings (FBE) are few of the important methods to manage and monitor corrosion in operating facilities and pipelines.

From analyzing solutions of mitigating corrosion with current technologies to identifying ways of reducing equipment downtime through advanced Non-Destructive Inspection methods, the 4th Annual Corrosion Management Summit to be held from 31st August to 2nd September 2015 at the Park Rotana in Abu Dhabi, UAE will discuss corrosion mitigation mechanisms and strategies highlighting current issues and solutions for it in the sector.

Experts representing world oil & gas leaders like Saudi Aramco, Petronas, ADCO, TOTAL, Petro Rabigh and KNPC will share their experiences at the summit. The Summit will bring together regional and international experts from production companies, refineries, petrochemical companies and corrosion management solution providers.