Offshore Facility Extends Asset Life with 15 Years and reduces costs with 10%

Overview

A global energy company that carries out activities across 30+ countries worldwide intended to extend the lifetime of one of their actively producing offshore facilities. The company produces oil and gas, downstream and upstream. They asked MaxGrip’s experts to perform an Asset Lifetime Extension (ALE) study for an Asian offshore site in order to safeguard uninterrupted high asset performance.

Challenge: Cost-Effective Lifetime Extension

As the producing oil field was expected to be active for some time but the offshore facility was nearing its original design life, the major oil company was compelled to take action. MaxGrip was asked to identify and prioritize the best life extension actions from a cost-effectiveness perspective and to ensure that the facility can continue to operate safely and reliably beyond the original design life.

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Approach: Holistic Assessment

In short, our approach included:

• 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: Lifetime Extended with 15 Years

• 10% cost reduction
• Asset lifetime extended with 15 years
• Safeguarded integrity of structural and pipeline assets
• Extend to other facilities

Would you like to know more?

Max Lee

Max Lee

Sales Manager APAC

+60 327 121 011
+60 123 072 673
max.lee@maxgrip.com

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