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Life Matters Lloyd's Register Energy business delivers verification services to enhance and sustain the safety, integrity and performance of energy related assets both offshore and onshore.

Holistic approach to asset management

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Pronunciation: \ho-‘lis-tik\

According to the Merriam-Webster's Dictionary, "holistic" means "relating to or concerned with wholes or with complete systems rather than with the analysis of, treatment of, or dissection into parts." In short, it's a "forest" view, rather than focusing only on a single tree.

Why Lloyd's Register's holistic approach is important:

The energy sector recognizeslong-term asset integrity is vital, particularly as demands on resources increase. A total asset performance approach goes beyond initial design analysis. It is a more holistic approach to planning, designing and implementing long-term maintenance and operations performance.

Lloyd's Register Energy' holistic approach to asset management is an overall assessment of asset integrity...it examines the health of the forest, so to speak, by paying careful attention to the most critical assets first, thus preserving the overall system most efficiently. Our tool chest is immense; along with the industry's finest collection of inspectors, engineers and scientists, we deploy custom-created software tools that provide exacting reports on all aspects of your systems.

Real-Life Application in the Energy Sector:

As a prime example, in 2001 Lloyd's Register was commissioned by the UK Offshore Operator's Association (UKOOA) to study FPSO maintenance, repair and inspection best practices within the industry. The purpose was to collect available knowledge within the association in order to improve safety, drive down operating and maintenance costs and spread lessons learned around the world. The focus was on specific problem areas and the tactics employed to resolve the issues, including ballast systems, oil storage, hull, caissons, deck structures, tank venting, system pipe work, cranes, thrusters, swivels and drag chains.

The result was a comprehensive assessment of operations in each of the major offshore environment types in areas such as the North Sea, Australia, Canada and Gulf of Mexico. Within each region, we identified the predominant asset strategies deployed by producers and the attendant issues. Each region favored a particular type of FPSO deployment and each involved particular adaptations to deal with environmental challenges. These assessments were collected in a single large report and delivered to the association for review.

Lloyd's Register North America hosted the 23rd meeting of the FPSO Forum (www.fpsoforum) in The Woodlands, Texas where many of the lessons learned by the global community both in construction and operations were shared to ensure that best practices were explored within the forum.

The Bottom Line for you and companies like yours operating in energy-related industries:

Companies around the globe rely on Lloyd's Register technical experience and expertise to deliver an impartial assessment of their systems and assets so they can be assured of their efficiency and overall safety. Life matters, so we set, uphold and apply high technical standards of design, manufacture, construction, maintenance, operation and performance. By applying a holistic approach to asset management, managers and owners reap the rewards of lower unit downtimes, reduced maintenance issues and a safe environment for both equipment and personnel, freeing them to do the job at hand and focus on optimizing operations.