Extending Asset Life: 10 Of The Key Building Blocks For Success

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Many energy and process industry operating companies are experiencing the challenges of operating ageing assets, often beyond their design life.

There is a need, often reinforced by regulation, to ensure safe, reliable and competitive operation today, but also into the future to the point where production ceases. Where ageing assets still have a considerable operating life remaining there are many benefits in determining a robust and dynamic life extension strategy.

A good asset life plan helps deliver several things:

  • Safe and reliable operations into the future
  • Compliance with regulations
  • Appropriate maintenance and inspection actions
  • A strategic view  of future investment needs and maintenance budgets
  • Clarity on the timing of major replacement and refurbishment needs

While the value of an asset life plan is clear, the most effective way of developing one is not. A good life plan must consider the assets themselves, the systems and organizations that support them and the competence of the people involved. The current and future projected condition, history, original design and future requirements must also be considered. Assessing every item of equipment, structure and pipe is neither practical nor necessary. Making the right judgments about the approach to developing an asset life plan and the level of detail to go into for each element are examples of the sort of critical decisions that must be made in building a successful life plan in the most effective time and resource efficient manner.

This free webinar will outline the challenges and issues associated with asset life planning, will share a framework for life extension and offer 10 suggested building blocks for creating successful life extension roadmaps.

ABB Consulting has vast experience of working with asset intensive operating companies across the world, providing many types of asset and integrity management services (life extension studies, asset health checks, risk based inspections etc.). The lessons learnt through ABB’s experiences will be shared in the webinar.

Some of the building blocks that will be covered are:

  • Appropriate understanding of the current condition and future requirements
  • Targeting and identifying the most beneficial focus areas
  • Identifying, accessing and analyzing the right information
  • Getting the right skills and competence in the team to build the plan
  • Closing out actions and recommendations
  • Keeping an asset life plan live and current

To hear more about these blocks and to learn about the others, please register for the webinar.

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Brian Hudson ABB Consulting