Ageing is inevitable, manage the risk.

As many of the assets in the oil and gas industry today are nearing the end of their originally intended design life, asset life extension has become an increasingly attractive option to avoid decommissioning assets, which is a costly and logistically complicated process. However, there are several challenges in relation to hazard management that requires a number of key factors to be effectively managed. It is not always about the age, it’s about the condition, and the impact over time.

Operating beyond the design life
This can be done if the assets are within a safe operating range for their estimated lifetime and required operating conditions, and if no failures occur that will generate adverse consequences. Impacts on human health and safety, the environment, reputation and finances such as production losses, emergency care and recovery costs, are all important considerations.

Realising the true value of your asset
Offering tailored solutions. Penspen’s team of experts have a wealth of global experience within the full asset integrity and management life cycle. By applying a range of techniques to assess and manage the ageing situation, you can benefit from better decision making, less risk and enhanced knowledge – with cost, efficiency and safety at the very core.