LONDON– Wood Group Intetech has developed new software for analyzing global well component reliability data.
The iQRA system, based on the ISO-14224 standard, is designed to offer operators insight to assist selection of well and oil field components.
It gives users the ability to benchmark their reliability figures against a global dataset and extract safety critical element failure statistics and mean-time-to-failure data.
Additionally, the cloud-based tool allows users to construct their own queries and generate information instantly from anywhere, WG Intetech says.
The data can provide the basis for quantifying the risk status of wells before and after planned workovers, and on scenarios that involve either retaining wells on a production/injection regime, or alternatively P&A.