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OPERATIONS & MAINTENANCE


When it comes to asset life extension, oil producers have discovered that a risk-based inspection approach can cut costs if it’s implemented properly. Now, says Anne-Marie Walters, it’s a matter of increasing the adoption rate


RISK & REWARDS


get more life out of the platforms they have rather than building new ones. Determining how to get more out of existing assets and extend their life in the offshore environment is a pressing problem for owners and the engineering companies that support them. As a result, many owner-operators are looking to optimise their resources and take a risk- based approach to monitoring their assets.


A 18 www.engineerlive.com


lthough the low price of oil is providing relief to consumers at the gas pump, pressure is being put on offshore oil producers to


A recent survey of producers conducted by Oil and Gas IQ (OGIQ) and Bentley Systems shows the extent of this trend. Many offshore platforms in the Gulf


of Mexico and the North Sea are 40 years old or more, and they have gone well beyond their expected life of 25 years. In these challenging times, though, owners cannot afford to install new platforms. So, they are leaning on analytic software technologies to analyse structural integrity and determine risks, and explore options to prolong asset life. A surprising result of the survey, though, is that even producers


with assets that are less than 10 years old are looking at how to extend asset life – working out options to get more from their existing assets rather than build new. When asked what the most important drivers for reassessment are, 97% of those surveyed said field life extension, making it the most important business driver. Other just as important drivers for reassessment include new production equipment that puts more weight on platforms, subsea tiebacks, and changing meteorological data. But life extension is clearly the main focus of producers.


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