Wood Group Intetech establishes global database of well component reliability information
ABERDEEN -- Wood Group Intetech (WG Intetech), a provider of well integrity management services, has developed a new software platform for analyzing global well component reliability data. Called iQRA, the tool provides operators with insight to make better, more informed decisions about the selection of well and oilfield components.
WG Intetech has designed a solution to provide a broad set of validated component reliability data in a single, secure location.
Based on the ISO-14224 standard, iQRA gives 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. The cloud-based tool allows users to construct their own queries and generate information instantly, from anywhere.
iQRA supports a range of cost-reduction decisions. The data provide 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.