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Lloyd's Register Energy: Financial and Safety case for Risk Based Inspection embedded in IBM Maximo

Lloyd's Register White Paper

Equipment failures cost global oil and gas operators and other asset-intensive industries billions of dollars every year, in addition to jeopardising the safety of equipment, plants, people and the environment.

This paper offers an introduction into how embedding Risk Based Inspection (RBI) functionality in IBM Maximo creates value to oil and gas operators and other asset-intensive industries, by providing better visibility on risk-based monitoring to improve safety, equipment integrity and operational reliability, which can increase equipment uptime by at least 20% and reduce costs typically by 50%.

Why RBI?

  • Reduces unplanned downtime
  • Reduces failures, specifically HSE and catastrophic ones
  • Can be easily applied to aging plants with unknowns
  • Balances long range improvements with quick wins

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