Main Drivers for Life Extension
Continued economic recovery for operation and maintenance costs serves as a main driver for the life extension process. Most operators would see it as best practice to undertake one at an appropriate time, after considering the operational and maintenance costs, as well as any legislation requirements & documentation updates.
Considering the risk to the people and the environment is also an important driver – integrity engineers need to assess the results of the risks on the community the asset serves, and if the venture is worth completing.
The management of the physical asset is certainly another important factor, but life extension also requires the appropriate skills and competency to avoid such risks. The predictive studies and sets of data recorded supplement this, so that the asset doesn’t become a hazard during or in its future operation.