Reliability data has gained widespread use in the offshore business due to industry studies like Oreda, WellMaster and others. The introduction of statutory codes and regulations in a number of oil producing countries has also strongly accelerated this development. During the last decade, the offshore industry has become increasingly aware of the potential benefits which can be drawn from such databases. Hydro Oil & Energy has developed a very conscious strategy on application of reliability data and risk/reliability analyses techniques for decision making in the downhole completions area. The company has used such data and analyses techniques in a wide range of cases involving risk evaluation following failure of a single downhole barrier, evaluation of different x-mas tree configurations, qualification of new downhole technology and others. This paper addresses the different areas where these data/techniques have been applied, and references case studies and cost savings/benefits achieved in for each study example

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