Revealing the big picture for component failure
Fatigue and corrosion are the most common modes of component failure in the oil & gas and maritime industry. The cost of prevention, monitoring, repair or replacement as a result of these forms of component degradation can run into billions of dollars. Potentially, financial penalties can occur if major incidents result from such a failure.
This emerges from new DNV research based on more than 1,000 failure cases analysed from across our global network of specialist laboratories (Figures 1a and 1b). Fatigue was seen in nearly a third (30%) of cases, and corrosion in almost a fifth (19%). The research identifies which components and equipment in the oil & gas and maritime industries fail most. More than a quarter (27%) of failures were in tubes and piping, and a fifth (20%) in rotating machinery.
Applying leading digital solutions to extract failure trends
To gain insights such as those above, DNV’s experts apply several methods to documentation and data to assess failure trends and predict what components are most likely to fail. This includes analysing real-time sensor data and image recognition, and applying search-engine technologies and our technical expertise in the sector.
This systematic analytical approach means high volumes of data can be analysed far more rapidly than using traditional databases and spreadsheets. The accumulation of more and better information from operations can be applied in the front-end engineering design phase of development projects to engineer more robust assets. During operations, this can enhance optimization of inspection, repair and maintenance for more efficient and safer use of capital and human resources.