NOPSEMA has developed and is seeking feedback on new industry guidance which discusses ageing assets and life extension in the Australian regulatory context, and promotes the review of management systems used on offshore oil and gas facilities, with a focus on managing the risks associated with ageing.
The intent of the new guidance is to promote practices that ensure risks associated with ageing assets are managed to be as low as reasonably practicable (ALARP).
Informed by international research and experience, the guidance recognises that the age of a facility and equipment is less important than its condition and the effects of material deterioration and damage over the lifetime of a project.
To reduce risks associated in later life, the guidance reinforces that duty holders’ management systems should incorporate lifecycle management principles to asset ageing and life extension.
Under relevant legislation, operators are required to have in place accepted risk management plans, which include safety cases, well operations plans, offshore project proposals and environment plans.
Plans are assessed by NOPSEMA’s teams of technical and scientific experts against requirements set out in the Offshore Petroleum Greenhouse Gas Storage Act 2006 (OPGGS Act) and associated regulations.
Interested stakeholders are strongly encouraged to review the ageing assets and life extension guidance note and provide feedback via NOPSEMA’s consultation hub, by no later than COB 24 December 2020 to be considered in its finalisation and subsequent use.