Author: Luis Alberto Tilleria
In the oil industry, one of the most important systems is the power system, which supplies energy to oil production facilities. The goal is to show how decision-making based on reliability engineering helps one make appropriate decisions and substantially boost earnings, reducing uncertainty in decision-making. A block diagrams analysis will be used, associating the risk of reconditioning due to equipment failures and operating costs. After quantifying risk, cost and profits, the decision becomes easy when it comes to knowing which operating mode the generation system must work in – in other words, how many generators must be operating and how many must be on standby. All this methodology is directly aligned with ISO55000-based asset management, which aims at maximum profitability over the life cycle.