The failure of critical drilling and marine equipment offshore can result in non-productive time and significant cost impacts to industry each year. With the rapid development of sensor technology, computing power, and the data infrastructure to support, we have reached maturity in the age of the digitalized asset. A smart function enabled approach to Condition Based Maintenance (CBM) is achieved as a result of this digitalization, enabling improved lifecycle performance for operations and maintenance.
Smart functions supporting asset heath decision making can be implemented on structures or machinery. Decisions are supported via the use of data supported by physics-based and data-driven algorithms. Such functionality enables troubleshooting and simulation capability, often in the form of a multi-model approach, such as a digital twin. The application of smart functionality can help owners establish an optimal approach to managing integrity that is truly condition-based and predictive in approach. As a by-product, such smart functionality can also contribute to a Class approach that is installation-specific and condition-based in both scope and frequency.