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. 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. 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.

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Oil Gas asset management

Case study – highlights

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

This company saved 10% on costs with an asset lifetime extension of fifteen years.  The integrity of structural and pipeline assets are safeguarded. The approach will now be rolled out to other facilities so that they can also benefit from the project.

 

Get in touch.

MaxGrip Jeremy Borton

Jeremy Borton
Senior Consultant

jeremy.borton@maxgrip.com
T: +1 615 838 0005

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