Operators are investing significant time and effort to retrieve relevant equipment data which is required to make important decisions.
Despite a revolution in the availability of data, collecting and assuring the quality of equipment reliability data is still to a large extent a manual process, often dependent on information from multiple data sources and systems.
- DNV GL has for a number of years been managing the Offshore Reliability Database (OREDA) Joint Industry project, an industry collaboration initiative to collect and assure the quality of reliability data
- Over the last decade, there have been significant advances in sensor data availability and more powerful data networks and storage facilities (Big Data)
- The objective of this JIP is to capitalize on the increased amount of data available and streamline the process of collecting and assuring the quality of reliability data
Benefits & Value
- The direct benefit of this JIP is to provide the industry with tools and methods to collect more data with less cost, less effort and better quality.
- Major oil & gas companies currently invest significant time and effort in collecting this data (NOK 5-10 million/year)
- Better and more reliability data will allow faster and better decision-making, which could significantly reduce project investment costs - CAPEX.
- 5-10% CAPEX reductions (NOK 500 million)