The petrochemical industry constantly seeks cost-effective solutions that improve the safety and reliability of their facilities. Adopted first in the API 570 Piping Inspection Code, the use of API 580 / API 581 risk assessments have been implemented by numerous petrochemical facilities, and there is clear justification for its use and value when properly applied. Many facilities today now utilize a combination of both time-based and risk-based mechanical integrity programs.
Risk-based inspections (RBI) have been shown to provide significant benefits through mechanical integrity and turnaround cost optimization, as well as overall risk exposure reduction. Typical return on investment over a four-year turnaround cycle is on the order of 4:1. The cost savings do not always come from reduced inspection costs, but savings can also be achieved due to reduced mechanical expenses.
Sentinel Integrity Solutions verifies and evaluates the precise data needed to perform an objective, quantitative risk assessment. We optimize this process by exporting data from a facility’s current mechanical integrity software and importing the data into virtually any risk assessment software.
Our risk assessments identify, evaluate and prioritize damage mechanisms that are likely to occur in process equipment. The risk assessment then accurately predicts the likelihood and consequence of failure for fixed equipment.
Sentinel Integrity Solutions can also assist our clients in keeping their risk assessments evergreen. This includes the preparation of Management of Change Work Processes to ensure that the RBI software files are kept updated at all times. We train the nested or resident inspectors updating the analysis and inspection. The facility can understand in real time where the high risks are, what they must do to reduce them and what the savings will be.