Wood Group has applied its experience and deep domain knowledge to establish the largest database of well and oilfield component failure information in the industry. The users of the web-based subscription service, iQRA, are able to:
- Benchmark reliability figures based on their own data against a global dataset of 250,000 years of component service life
- Extract mean-time-to failure (MTTF) data for quantitative risk assessments and critical decision making
- Construct their own queries and generate information instantly, from anywhere
Information is accessed through a simple and intuitive user interface that requires no training for use. This information is used to support a range of cost reduction decisions:
- Reduce well entries through the selection of best performing components for new well designs or replacing equipment at workovers
- Establish optimum maintenance intervals based on MTTF figures for performance-led maintenance
- Reduce corrective maintenance by installing higher reliability equipment
- Justify plug and abandonment (P&A) decisions based on a quantitative analysis
- Quantify the relative underperformance of problem wells or oilfield components – how much is avoidable underperformance, how much is this costing my organization, and what can be done to improve it?
- Select options for workovers based on well quantitative risk assessments to evaluate the risk status of wells before and after proposed workovers
- Retain wells on a production/injection regime based on quantitative evaluation of well risk status
iQRA is accessed securely through a standard web browser. A robust infrastructure has been rigorously developed and tested to ensure the quality, standardisation and anonymity of data. Processes and checks are also in place to ensure the neutrality of information and safeguard against potential data bias.
Contact us to discuss how to access high quality reliability information and analysis for any well or oilfield component type.
A single, one-stop solution for integrity and broader well operation management needs.