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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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.
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