Development of risk assessment model for equipment within the petroleum industry

MOHAMED, Abdel and SAAD, Sameh (2016). Development of risk assessment model for equipment within the petroleum industry. IFAC Papers Online, 49 (28), 37-42.

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Maintenance department within petroleum industry seek to increase equipment safety by means of reducing the occurrence of the failure and its undesirable consequences. In this study, a risk assessment model is proposed, which includes the likelihood of the risk and the consequences of failure. A new mathematical equation is proposed to assess the likelihood of risk and identify the optimum inspection interval. In addition, modified mathematical equation to evaluate consequences of risk which allow more generalization and accuracy of weighing the possible losses (performance, financial, ecology and human) is developed. The results demonstrate an improvement at the assessment of the probability of risk and provide better understanding of the impact of the risk on the major identified areas within the petroleum industry.

Item Type: Article
Additional Information: Presented at the 3rd IFAC AMEST Workshop, Maintenance Technology for Performance Enhancement, 19-21 October 2016, Biarritz, France.
Research Institute, Centre or Group: Materials and Engineering Research Institute > Centre for Automation and Robotics Research > Systems Modelling and Integration Group
Departments: Faculty of Science, Technology and Arts > Engineering and Mathematics
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Depositing User: Sameh Saad
Date Deposited: 12 Jan 2017 10:41
Last Modified: 27 Jan 2018 21:32

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