Penspen Training News & Events Work for Penspen Contact Home About Us Capabilities Experience Insights Ageing Assets Energy Transition Contact Us NAME FIRST NAME LAST NAME EMAIL ADDRESS* PHONE NUMBER COMPANY NAME* MESSAGE 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. Related Projects ———————————— We’ve worked on over 10,000 projects in over 100 countries around the world and tackled almost every conceivable challenge in the industry. Explore a selection of our asset life extension projects below. Pipeline System Europe Our Scope of Work: Identifying gaps in data and original design, evaluation of current and future system integrity, conclusions, recommendations and future requirements for safe asset operation and re-utilisation for extended operation beyond original design life. Offshore Facility Asia Pacific Our Scope of Work: Assessment of present condition, life extension studies for each asset, demonstration of overall integrity/safe operation, establishment of long term requalification, recertification, modification/upgrade plans for extension with associated costs and investment profile. Pipeline System United Kingdom Our Scope of Work: Pipeline lifetime extension assessment, recommendations for extended operation beyond original design life, review of pipeline system design codes and standards, risk-based inspection methodology (PIRBI) including assessment of remnant life for time-dependent hazards. Crude Oil Pipeline Middle East Our Scope of Work: Identification of a safe working pressure and corrosion rate and remaining life calculations based on defects existing within the current pipeline, with recommendations for future inspection requirements. Pipeline System Europe Our Scope of Work: Assessment of current pipeline integrity, analysis of the internal corrosion processes, identifying future growth of internal corrosion anomalies to form the basis for the remnant life assessment with recommendations for the next in-line inspection (ILI). Pipeline Structure System Middle East Our Scope of Work: Pipeline integrity management for maturing assets, assessment of current SIMS and PIMS systems, identification of improvement areas, development of risk assessment, risk-based inspection methodology and lifetime extension for structures. 70% of the world's production consists of mature assets $1.4BN of damage is created by corrosion every year Keep your assets going. CONTACT US Get in touch info@penspen.com London: +44 (0)20 8334 2700 LinkedIn Home Experience Capabilities About Us Contact Training News & Events Work for Penspen Resources Cookie Policy Privacy Statement Statement of Investment Principles Site map Legal Standard Terms and Conditions © 2021 Penspen. All rights reserved. Part of the Dar Group Website by Thompson Brand Partners.