ASSET LIFETIME EXTENDED WITH 15 YEARS AND 10% COSTS SAVED FOR OFFSHORE FACILITY
ASSET LIFETIME EXTENDED WITH 15 YEARS AND 10% COSTS SAVED FOR OFFSHORE FACILITY
3 PagesCHALLENGE As the producing oil field was expected to be active for some time but the offshore facility was nearing its original design life, the company wanted to extend the lifetime of this offshore asset. APPROACH • Data collection • Review and verification • Hazards and critical barriers gap analysis • Condition, risk and life extension assessment • Cost-benefit analysis (CBA) • Asset life extension deployment program RESULTS • 10% cost reduction • Asset lifetime extended with 15 years • Safeguarded integrity of structural and pipeline assets
