DNV GL releases new cost-effective solution for pipeline risk analysis
Running a quantitative risk analysis (QRA) of a pipeline has always been resource and time intensive. DNV GL’s new release of Phast and Safeti hazard and risk assessment software cuts calculation times to a fraction with a completely new pipeline risk model, enabling more efficient, speedy and cost-saving analysis, the society said in a press release.
Reducing risk of pipeline accidents
Pipeline accidents often result in significant losses. Just in the United States there have been over a hundred accidents in the past twenty years, and each one represents losses of up to millions of dollars.
In order to identify the most effective mitigation measures that can reduce risk of accidents in oil and gas pipelines, operators regularly perform quantitative risk analysis, QRA. Complex scenarios are modelled and analysed, a process which can be time intensive.
More efficient and more detailed QRA
“With Phast and Safeti, conducting a pipeline QRA has never been quicker,” says Kenny Shaba, Risk and Reliability Product Manager, Software, DNV GL. “Setup and analysis time is significantly reduced, freeing up time to interpret results or execute more projects,” he says. “Not only is it quicker, the results are more detailed, giving better understanding of the risks of the pipeline. With better knowledge, you make better decisions.”
In some cases, the time to model and run a pipeline analysis can take as little as a few minutes. The new risk model in DNV GL’s Phast and Safeti 7.2 QRA software includes the ability to draw a pipeline on a map, making it easy to set up and define. Isolation valves and possible breaches along the pipeline are defined once and replicated. The program then automatically creates the relevant scenarios. Where possible, for example when different release scenarios have similar results, they are rationalized and represented by a single scenario, speeding up the analysis.
Better, more timely decisions
“With speedy results, decisions can be made efficiently based on quality data in a timely manner,” says Are Føllesdal Tjønn, CEO, Software at DNV GL.
With the latest release, Phast and Safeti are now fully aligned on a common platform. This version brings many new capabilities and updates, including a new and modern interface that is user-friendly, flexible and intuitive. It also includes multi-language support, including English, Chinese and Spanish.