Scenario of oil prices fluctuations has not only forced inefficient Oil & Gas companies to improve their productivity and supply chain costs, but it will also push the efficient companies to find ways to protect their top & bottom lines. A set of new digital technologies such as Internet of Things (IoT), Industry 4.0 promises to aid Oil & Gas companies tackle the challenges arising out in such oil price regime. IoT basically integrates sensing, communications, and analytics capabilities of equipment, infrastructure like pipelines, etc. using digital technology and to manage their existing assets in an efficient manner. Thus, purpose of this paper is to investigate the impact of these new digital technologies on predictive maintenance practices.

A detailed literature survey has been carried out in order to identify and describe the conceptual constructs contributing to predictive maintenance within a Maintenance 4.0 setting such as value creation through Internet of Services (IoS), Internet of Things (IoT), Smart Solutions (SS), Smart Factory (SF), Cloud Computing (CC). Further, a survey through Focus Group Discussions/ Semi-structured Interviews was conducted in Indian Oil & Gas companies with reference to identified conceptual constructs. 

 A conceptual Intelligent Predictive Maintenance (IPM) framework and CSSI (Create-Share-Synthesize-Implement) model have been developed in this study for the aspects related to IPM such as value creation through smart services, remote service delivery, smart solutions & digital innovation, digital analytics, data-driven operational excellence, machine-to-machine communication, and mobile & cloud computing and merits of this framework. 

 IPM framework and CSSI model is beneficial to practitioners such as asset maintenance engineers and managers in the midstream Oil & Gas companies in the industry in order to decide on the development of IPM infrastructure and its implementation in their organizations. Key challenges with recommended actions are also proposed.