The chapter “Life Cycle Management” discusses the importance of strategically managing the aging and life extension of offshore oil production facilities to ensure operational safety, economic efficiency, and asset longevity. It explains that proper aging management prevents premature failures—mainly those caused by corrosion and fatigue—while extending the productive lifespan of installations beyond their initial design, thus maximizing asset value and deferring costly decommissioning. The chapter introduces the concept of the “bathtub curve”, relating failure probability to cost, downtime, and risk, and proposes monitoring facility performance and economic outcomes as key indicators of the onset of aging. Once this decline is detected, operators can revise integrity strategies, plan refurbishments, or replace equipment to sustain performance and profitability. It emphasizes that each facility should conduct annual aging evaluations after reaching midlife to anticipate degradation and optimize investment decisions for life extension. Complementary tools—such as Structural Reliability Analysis (SRA), Quantitative Risk Assessment (QRA), and Integrity Management—are presented as essential for maintaining safety and efficiency under the ALARP principle, supported by technologies like IoT, predictive analytics, and digital twins. The chapter also covers Life Cycle Structural Integrity Management, highlighting design criteria, maintenance, and sustainability practices that ensure resilience against environmental and accidental events, and introduces Design for Structural Damage Tolerance, focused on preventing progressive failure through resilient design, advanced simulations, and training. Overall, it concludes that effective aging assessment and integrated integrity management are critical for ensuring the safe, profitable, and sustainable operation of offshore oil production facilities throughout their life cycle.