Size of the prize ranges $1.4 – 4.2 million via condition monitoring plus RAM analysis
Today I am going to reproduce an article recently published by our oil and gas division. DNV GL – Oil and Gas has been working together with operators to combine condition monitoring techniques with RAM analysis to unlock the potential of their existing rotating equipment. Many pieces of rotating equipment are operating below optimum capacity, affecting production costs, revenues and resulting in unexpected down time.
The data produced, identifies where losses can be reduced and this information is quantified to improve in costs, quality or both. Plant failures are then ranked and improvements implemented to provide either quick wins or longer term rewards. The unique online tool is used as an aid to facilitate decisions, whether to replace or repair, how many spares to keep or what action to take in a cost constrained environment.
The fully functioning online monitoring and supporting analysis combines detailed statistics and performance monitoring which gives real time, round the clock, access to the condition of the machinery. The dashboard interface demonstrates an overview which cuts the complexity of the message and delivers critical information which is an enabler in planning and control of the asset.
Liv Hovem, Director of Division Europe & Africa at DNV GL says “The opportunity is there, in these challenging times to introduce new technology, new ideas and smart standardisation which gives predictability and flexibility. This enhances quality, reliability and profitability. A lot of the technologies, tools and arenas for collaboration exist, we just need to start using them effectively. Condition Based Monitoring, combined with RAM analysis is essentially a strategy that uses the actual condition of the asset to decide what maintenance needs to be done. This method dictates that maintenance should be performed when certain indicators show signs of decreasing performance or upcoming failure. Essentially, it targets improvements in the right place at the right time.”