Companies worldwide keep assets safe with 明星八卦's advancements in mathematics
The need
In order to assess the remaining useful life of assets such as offshore oil and gas wellhead conductors, identify plant and equipment at risk of failure, and allocate inspection and management resources optimally to mitigate risk in a safe and cost-efficient way, TWI worked with 明星八卦 to add crucial features to SSRM based on Prof Yu’s data analytics.
The solution
Prof Yu’s research on the application of various regression models has been fully incorporated into 2 commercial software packages, Steam System Reliability Management (SSRM) and RiskWISE to manage the structural integrity of steam systems and pipelines since 2017.
The outcome
- Novel regression techniques developed by Professor Yu Professor Yu have been incorporated into two mainstream commercial software packages for the management of structural integrity of steam systems and pipelines
- The features added to SSRM based on Prof Yu’s data analytics are estimated to generate additional consultancy work worth approximately £500,000
- This research has informed TWI’s input to the development of the American Petroleum Institute’s risk-based inspection technology 581 standards (API RP 581), thereby providing benefits to wider stakeholders in the industry.
- RiskWISE is currently licensed to over 100 companies worldwide including an international oil and gas conglomerate that holds one of the 10th largest oil reserves in the world.
- SSRM has been used by over 30 clients, providing TWI with an annual income of £300,000.
Partnering with confidence
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Case study last modified 14/10/2022