Increasing Turnaround Cycles with RBI: How One Client Forecast CAD $7MM in Inspection Savings

  • A Canadian-based energy company needed a solution to optimize its integrity program.
  • Based on industry standards, PinnacleART developed a customized Risk-Based Inspection (RBI) plan for the company’s facility.
  • PinnacleART’s solution optimized the facility’s turnaround cycles, enabling the facility to forecast a savings amount of CAD 7 million.

INTRODUCTION

Amidst the current challenging economic environment (sinking crude oil prices), Canada is facing extreme business complications due to its sliding currency value. This declining value in its dollar is causing Canadian businesses to shrink capital budgets and spending. Now, more than ever, companies are looking for ways to maximize return on investment from ongoing and future projects.

CORPORATE CHALLENGE

PinnacleART’s client, a Canadian oil and gas company, is facing serious challenges in the current market conditions. In response to an economic downturn, this company identified the need to implement an advanced asset integrity program focusing on safety, efficiency and overall cost optimization, as its current program placed a known and significant drain on financial resources. A more advanced and strategic program would give the company the tools it needed to utilize its available resources efficiently.