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PRCI PR-15-9808
- Internal Corrosion Risk Assessment & Management of Steel Pipelines
- Report / Survey by Pipeline Research Council International, 10/01/2001
- Publisher: PRCI
$448.00$895.00
L51907e
Southwest Research Institute
Need: Gas pipeline companies are focusing on improving means to assess and manage risk associated with internal corrosion damage, especially for aging pipelines. With increasing emphasis on efficient use of maintenance resources, it is becoming more difficult to prioritize pipe segment inspection/repair/replacements. Presently available risk assessment software does not sufficiently address the details of pipeline internal corrosion, can be expensive, and in some cases cumbersome to use. Therefore, a straightforward, dedicated risk assessment/risk management program is needed for companies with pipelines susceptible to internal corrosion.
Benefit: The objective of this work is to provide a risk assessment and management software tool that will:
(i) Provide probability of pipeline segment leak versus time for each pipeline segment of concern based on past laboratory research,
(ii) Provide a means of conducting a formal interview for Probability of Leak where data is not available, and
(iii) Provide an analysis tool for timing inspection/repair/replacement of each pipeline segment with a maximized Net Present Value (NPV) for the group.
Result: The NPV plot simply summarizes NPV for each segment. A positive NPV for a given year indicates that the maintenance action is financially beneficial. The year at which the maximum occurs represents the year that maintenance should be performed to gain the most financial benefit. The higher the positive value of the NPV, the greater the return of performing the maintenance at this time as compared to not performing the maintenance. If all the NPV's are negative, and the maintenance has to be performed in the analysis period, then the maintenance needs to be performed at the least negative NPV time. A positive NPV indicates that not only does performing the activity at the time indicated generate a cost savings, but that investing in this activity generates a positive benefit over an alternate investment of this money that would return the discount rate.
Southwest Research Institute
Need: Gas pipeline companies are focusing on improving means to assess and manage risk associated with internal corrosion damage, especially for aging pipelines. With increasing emphasis on efficient use of maintenance resources, it is becoming more difficult to prioritize pipe segment inspection/repair/replacements. Presently available risk assessment software does not sufficiently address the details of pipeline internal corrosion, can be expensive, and in some cases cumbersome to use. Therefore, a straightforward, dedicated risk assessment/risk management program is needed for companies with pipelines susceptible to internal corrosion.
Benefit: The objective of this work is to provide a risk assessment and management software tool that will:
(i) Provide probability of pipeline segment leak versus time for each pipeline segment of concern based on past laboratory research,
(ii) Provide a means of conducting a formal interview for Probability of Leak where data is not available, and
(iii) Provide an analysis tool for timing inspection/repair/replacement of each pipeline segment with a maximized Net Present Value (NPV) for the group.
Result: The NPV plot simply summarizes NPV for each segment. A positive NPV for a given year indicates that the maintenance action is financially beneficial. The year at which the maximum occurs represents the year that maintenance should be performed to gain the most financial benefit. The higher the positive value of the NPV, the greater the return of performing the maintenance at this time as compared to not performing the maintenance. If all the NPV's are negative, and the maintenance has to be performed in the analysis period, then the maintenance needs to be performed at the least negative NPV time. A positive NPV indicates that not only does performing the activity at the time indicated generate a cost savings, but that investing in this activity generates a positive benefit over an alternate investment of this money that would return the discount rate.
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