Wood Group’s Intetech well integrity management unit has developed a new software tool, ‘iQRA’ for analyzing well component reliability. iQRA will help operators select the best well and oilfield components, enhancing asset performance and safety.
iQRA includes a broad set of validated component reliability data and leverages the ISO-14224 standard for oil country reliability and maintenance data exchange. Users can benchmark their own reliability figures against a global database of safety critical element failure statistics and mean-time-to failure data. The cloud-based tool allows users to build custom queries and reports.
Intetech MD Liane Smith said, ‘iQRA provides dependable information on the status of safety-critical well barrier components whose true performance must be known with confidence.’ iQRA data can be used to quantify the risk status of wells before and after proposed workovers and to decide whether to retain or plug and abandon marginal wells.
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