Extending the life of older energy and mining assets aims to squeeze more value from decades-old infrastructure, but this push to avoid billions in shutdown and replacement costs also raises the stakes for safety, regulatory compliance and long-term reliability.
Across Australia, many mines were built close to 50 years ago and offshore oil and gas platforms are reaching the end of their original design lives yet operators still rely on them to power industry and communities. Instead of defaulting to full-scale replacement, companies are increasingly looking for ways to maintain and upgrade what they already have, blending engineering know-how, operational experience and smarter planning to keep assets running longer without compromising performance.
In practical terms, this shift means more focus on proactive maintenance programs, targeted upgrades and integrated project planning that spans the entire life of an asset, from initial construction to operations and then into late-life extension. Service partners with long track records in mining, oil and gas are extending their role, supporting clients through everything from routine shutdowns and turnarounds to complex life extension projects. At the same time, the same capabilities are being applied to newer sectors such as defence infrastructure, utilities and large-scale renewable projects where the pattern is similar, a major capital build followed by decades of operations, maintenance and carefully planned life extension.
Scale and capability are becoming strategic advantages in this environment. Global service groups with tens of thousands of employees across multiple regions use acquisitions to deepen their technical expertise and broaden their sector coverage, particularly in areas like defence, utilities and energy transition infrastructure that are expected to generate long-term demand for operational support. The aim is to grow in step with clients as their assets age while maintaining a strong focus on how teams work together on the ground, because safe and consistent performance in complex environments ultimately depends on people and collaboration as much as on engineering.
Looking ahead, the rise of hydrogen, large-scale wind, storage facilities and other low carbon projects appears to be extending rather than replacing the core skills developed in traditional resources and energy operations. At the same time, analysts estimate that decommissioning ageing offshore oil and gas infrastructure could represent around $60 billion in liabilities over the next 30 to 50 years, which is prompting operators to reassess whether to retire equipment or invest in life extension. In this context, strategies that keep critical assets operating safely for longer appear to be a key lever for resilience, helping maintain the backbone of Australia’s energy system today while preparing for a more diverse and net zero aligned infrastructure mix in the decades to come.
