Consequence Classification Based Spare Parts Evaluation and Control in the Petroleum Industry Spare parts (SPs) evaluation and control (SPEu0026C) has been a challenging task in the onshore and offshore petroleum industry, due to the highly hazardous and capitalintensive nature of operational assets. SPEu0026C requires that different phases of the petroleum assetu0027s life cycle (i.e. commissioning, operations, modifications, and decommissioning) are taken into consideration via project execution. The requirements imposed by regulatory authorities, the recommendations suggested by classification societies and standards (i.e. national and international), and the guidelines available in the internal performance standards must be taken into consideration in an SPEu0026C process. SPEu0026C also requires contributions from several stakeholders from various disciplines, such as plant integrity, materials management, project management and package responsibility, as well as original equipment manufacturersvendors, to establish a consensus about operational and work practices. Due to the inherent nature of the operational assets, the conventional inventory control approaches and formulae are mostly superimposed by consequence classifications and risk assessments. This has resulted in a significant level of ad hoc spare part recommendations, causing significant loss to asset owners. This manuscript firstly demonstrates current SPEu0026C practices in the petroleum industry. Secondly, it presents frameworks to standardize SPEu0026C tasks. Finally, it proposes inventory policies, based on consequence and unit cost, which provide an approach to compensate for ad hoc SPAu0026C tasks, to minimize SPrelated losses to the assetsu0027 owners.

Reliability analysis of Pneumatic Control Valve in Process Plant Using Simulated Failure Data Performance monitoring is an important part of process plants. As it is very well known that process plants consist of many control loops to operate. Although, single downtime in a process plant can cause huge loses in production and financially. Hence it is required to understand the behavior of controllers, such as control valves to avoid the downtime and to reflect the reliability analysis. Valve stiction is the most common and reoccurring problem in pneumatic control valves. Since many existing models define the valve stiction and how to control stiction effect, but how the stiction is going to affect the reliability of the process and how does stiction can occur at different stages of valve opening is still missing to consider. So, there is a need to understand the reliability behavior and effects on the whole process plant and also including the maintenance of the plant. This paper focuses on the prediction of reliability analysis using Weibull distribution and visualizing the maintainability on the bathtub curve to estimate and calculate the life of control valves.