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[August 25, 2014]
WG Intetech Develops New Software for Well Component Reliability [Gulf Oil & Gas (Egypt)]
(Gulf Oil & Gas (Egypt) Via Acquire Media NewsEdge) Wood Group Intetech (WG Intetech), a world leader in well integrity management, has developed a new software platform for analysing global well component reliability data. Called iQRA, the tool provides operators with valuable insight to make better, more informed decisions about the selection of well and oilfield components – enhancing asset performance and safety.
Responding to the industry demands to have ready access to a broad set of validated component reliability data, WG Intetech has designed a solution to harness this information in a single, secure location.
Based on the ISO-14224 standard, iQRA supports critical decision-making by giving users the ability to benchmark their reliability figures against a global dataset and extract safety critical element (SCE) failure statistics and mean-time-to failure (MTTF) data. iQRA is a feature-rich platform that comes with quality-assured, trustworthy data. The cloud-based tool allows users to construct their own queries and generate information instantly, from anywhere.
"Wood Group Intetech has been delivering online well integrity data solutions for more than a decade and we have a strong and proven track record in providing top quality information to support strategic decision making. As a trusted partner for the oil & gas industry we were in the perfect situation to develop a solution for benchmarking and analysing global well performance data," says Dr Liane Smith, managing director and founder of Wood Group Intetech.
"Information on the status of safety-critical well barrier components must be completely dependable, while the real performance of these components must be known with confidence," Dr Smith continued. "IQRA enables both of these issues to be addressed." iQRA supports a range of cost-reduction decisions. The data provides the basis for quantifying the risk status of wells before and after proposed workovers. It also supports the justification to either retain wells on a production/injection regime, or alternatively plug and abandon.
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