ROTTERDAM, the Netherlands – ModuSpec and Scandpower have combined resources with risk management experts to develop a BOP monitor application for the RiskSpectrum software. The purpose improved monitoring of BOPs and reduced risks for this safety-critical piece of equipment.
The monitor is currently being designed to model BOPs from two manufacturers, with additional designs to follow, including conventional and multiplex. The panelists will be presented with failure mode and effects criticality analyses, reliability data, and the results of fault-tree analyses.
“… there is high demand for a transparent and well-structured risk assessment approach that helps owners and operators to monitor the BOP's performance," said Duco de Haan, ModuSpec's CEO, at the program release.
The BOP Monitor risk assessments used to populate the data for the model will be performed in advance by a team of BOP operational experts with the required documentation and drawings available.
As the risk assessments will be completed in a controlled setting, against a proven methodology from Scandpower, the quality of the risk assessments should exceed those taken in an ad-hoc manner.
"We are breaking new ground in assessing risk by developing the BOP Monitor," said Bjorn Inge Bakken, CEO for Scandpower AS. "What will make this risk model so valuable is the quality of the data used to carry-out the assessments in combination with the immediacy in which the results are received. The ability to define the operational risk level of a BOP in 'real time', including the identification of faulty components, will be of great benefit to the industry and society as a whole."
ModuSpec and Scanpower are members of the Lloyd’s Register Group.