OPTAGON is a Monte Carlo simulation package that has been developed for predicting and optimising the reliability, availability and maintainability of production facilities. OPTAGON includes features that are specifically designed to model oil and gas industry operations.
The key reasons for carrying out asset optimisation are to:
- Maximise revenues through increased production
- Reduce CAPEX and OPEX investment
- Reduce contractual penalties by optimising commercial strategy
Benefits
The OPTAGON asset optimisation process can be applied throughout the project life-cycle, with distinct benefits at each stage:
GL Noble Denton has applied the OPTAGON asset optimisation process on numerous design projects and operating assets worldwide, resulting in the following benefits:
- $300M CAPEX saving for a major oil and gas operator through optimisation of installed equipment sparing.
- $250M CAPEX + $25M/annum OPEX savings through optimisation of shipping requirements for a Liquefied Natural Gas (LNG) supply chain.
- $185M CAPEX saving through optimisation of the LNG storage tank volume for a LNG import terminal, Libya.
- 7% increase in production of LNG export and domestic gas supplies through quantifying critical system contributors to production loss, Egypt.
- 10% increase in throughput through optimised maintenance strategy of an offshore gas platform (UK North Sea).
