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Risk assessment of offshore crude oil pipeline failure
journal contributionposted on 2023-05-19, 10:25 authored by Aljaroudi, A, Faisal KhanFaisal Khan, Akinturk, A, Haddara, M, Thodi, P
Failure of Leak Detection System (LDS) to detect pipeline leakages or ruptures may result in drastic consequences that could lead to excessive financial losses. To minimize the occurrence of such failure, the functionality of the LDS and the integrity of the pipeline should be assessed on a priority basis. This paper presents an integrated risk-based assessment scheme to predict the failure and the failure consequences of offshore crude oil pipelines. To estimate risk, two important quantities have to be determined, the joint probability of failure of the pipeline and its LDS and the consequences of failure. Consequences incorporate the financial losses associated with environmental damage, oil spill cleanup and lost production. The assessment provides an estimate of the risk in monetary value and determines whether the estimated risk exceeds a predefined target risk. Moreover, the critical year for the asset can be determined. In essence, the outcome of the assessment facilitates an informed decision-making about the future of the asset.
Publication titleJournal of Loss Prevention in the Process Industries
Department/SchoolAustralian Maritime College
PublisherElsevier Sci Ltd
Place of publicationUnited Kingdom
Rights statement© 2015 Elsevier Ltd. All rights reserved.