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Objectives
Quantification of relative risk values for different threats in defined pipeline segments. Identification of active and impending threats.
Issues
Risk is generally defined as the product of the likelihood of a given failure multiplied by the consequence of that event:
Risk = likelihood or probability of failure X consequence of failure.
Based on both code guidance and industry best practices, the risk model is structured to answer three basic questions about pipeline integrity:
- Susceptibility: what are the active risks affecting the pipeline?
- Severity: will the active risks result in a leak or rupture?
- Consequences: what is the company’s liability (cost) in the event of failure?
ROSEN works closely with operators to implement the semi-quantitative risk model. This model uses available pipeline data to answer these questions.
Deliverable
ROSEN’s risk assessment software enables operators to:
- identify the primary threats to pipeline integrity;
- rank pipelines in terms of risk (probability of failure and consequences);
- optimize inspection, maintenance and repair (IMR) activities, i.e. defining the appropriate maintenance needs and activities, and
- define an appropriate frequency for maintenance activities.
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