A Focus on Asset Life Services
As operating plants come towards the end of their design life, an Asset Life Plan is vital to identify the investment required to sustain integrity and the required operating performance. This will allow the plant to meet production and legislative requirements for the longer term and provide a focus for both future finances and resources.
This results in the need to collect data, assess asset condition, identify vulnerabilities / risks and review future budgeting for repairs/replacements using an Asset Life Plan approach, with the aim being to assess the remaining life of existing assets and plan engineering work and expenditure to meet production requirements.
Ageing is not about how old the equipment is. It’s about what is known about its condition, and how that’s changing over time.
Across Europe, between 1980 and 2006, it is estimated that there have been 96 incidents reported in the MARS database relating to major accident potential loss of containment attributable to ageing plant. This represents 28% of all reported ‘major accident’ loss of containment events in the MARS database and equates to an overall loss of 11 lives ,183 injuries and over 170Million € of economic loss.
Recent HSE MARS Data shows that in 2021 we are in a period of low Major Accidents occurring, however near misses are projecting upwards over the last few years. It is probable that as we step out of pandemic and site activity increases, we may see an increase in such events. It is vital to identify all risks that may lead to such an event before an HSE intervention or worse.
HSE MARS Data
Managing a COMAH regulated site comes with its challenges in ensuring you manage all associated risks to prevent a Major Accident or Hazard. Understanding risks and identifying vulnerabilities is a key function in this regard. There are various levels of assessment that be carried out to support your business needs.
The Figure below describes the indicative degradation experienced on various systems. It is important to manage ageing plant which will improve long term planning for the business and improve asset reliability.
Indicative Guide to Ageing Degradation, Ref HSE
Below shows what happens to plant when left to degrade without intervention.
CUI on Valve
If you are not managing your degradation or risks, it can lead to increased business disruption and unplanned outages.
Axiom can support you to develop an Asset Life Plan to identify vulnerabilities and inform operation and maintenance strategies. We can carry out a range of assessments to suit your needs including gap analysis for compliance, Asset Life Assessments, Remnant Life Studies and spares strategies to improve reliability of your Assets and to help meet industry standards and best practice.
Our Asset Life Plan approach covers the following stages:
Asset Life Plan Methodology
We can deliver high level and detailed reviews into asset health tailored for your needs.
Good practice guides:
- PAS 55, Asset Management, The Institute of Asset Management
- Best Practice for Risk Based Inspection as a Part of Plant Integrity Management, CRR 363/2001
- RR509 Plant ageing: Management of equipment containing hazardous fluids or pressure
- RR823 Ageing Plant Study
Contact us now to find out more: T: +44 (0)1642 732745 E: firstname.lastname@example.org