I've worked in several petrochemical facilities and none that I am aware of have a time-based criteria.
Because of the nature of my business, all of them had specific requirements for periodic on-line and off-line testing. the data gathered were trended to note deteriorating conditions and remedial efforts were taken if one of the little things started to head towards self-destruction.
I can think of several units that went into service in 1940-1945 and they're still chugging along. Some have been rebuilt, some not, and some are and a more stringent testing regimen due to age and indications, but they're still out there. I know of one 45 kV station service transformer that was dated 1902, still in service in 1993. With the cost of replacement transformers, I'd certainly be reluctant to apply a hard age-based criteria to replacement.
I would, however, look at my more critical transformers a bit harder and take an active stance towards remediation on my schedule rather than waiting for failure.
old field guy