OREDA goes Digital with new collaboration

Source: press release, 7 May 2019

Nicolas Clavé, Total’s representative to OREDA and JIP Steering Committee Chairman
Nicolas Clavé, Total’s representative to OREDA and JIP Steering Committee Chairman (photo: Total)

Vast amounts of offshore and onshore reliability data are to be made available through Veracity as OREDA provides access to their new and updated electronic version through the marketplace on DNV GL’s data platform.

For almost 40 years now, the OREDA consortium formed by several oil and gas majors and supermajors with worldwide operations has been collecting and exchanging offshore and onshore reliability data, with the main aim of improving safety, increasing availability and reducing maintenance costs.

Data from more than 292 installations, 18,000 equipment units with over 41,000 failure and 77,000 maintenance records has been collected and analysed. The databank also includes 55,000 subsea components with close to 3,000 failures and 1,000 maintenance records.

For many years, the OREDA handbook has been the leading source of reliability data for the global oil and gas industry. DNV GL, SATODEV and the OREDA member companies have formed a new collaboration which aims to make the data even more accessible and interactive via DNV GL’s Veracity data platform.

The OREDA software and dataset will be available by subscription from the Veracity marketplace, which has over 1 million subscriptions to digital solutions and services across the maritime, oil and gas and energy sectors.

“Since the issue in 2015 of the last OREDA Handbooks, we worked hard on creating a new way of accessing data. Over the last few years, a tool named OREDA@Cloud has been developed to allow both the members and the external users to apply filters and analyse the OREDA reliability database that will be stored in the Cloud. This new solution developed by the French IT service provider SATODEV will be distributed very soon through the Veracity market place proposed by DNV GL,” says Nicolas Clavé, Total’s representative to OREDA and JIP Steering Committee Chairman.

“After more than 10 years of a real ‘win-win’ relationship with DNV GL as JIP Project Manager, all OREDA Company members are very happy to collaborate again with this historical partner in the frame of this very exiting digital evolution. DNV GL being a brand renowned worldwide for its innovative solutions and the high quality of its proposed services, we are all very confident in the fact that distributing OREDA@Cloud through the Veracity platform will be a real step change in the way to access and use OREDA data,” Clavé adds.

“Veracity is designed to help companies unlock, qualify, combine and prepare data for analytics and benchmarking. We see that the Veracity marketplace and eco-system enables connections among multiple stakeholders and data sets, thereby creating new insights and innovative solutions. We are thrilled to be working with OREDA with what is one of the most important and in-demand datasets in the industry. We look forward to delivering increased value to the OREDA members and customers by utilising the latest digital tools and technologies available to us,” says Mikkel Skou, Head of Veracity by DNV GL.

Liv A. Hovem, CEO, DNV GL – Oil & Gas sums up “As an independent, neutral partner to the Oil and Gas industry, DNV GL is helping clients to collaborate and build trust in data and the systems that generate it. OREDA on Veracity is a great example of creating a digital solution, which will benefit the OREDA partners and the industry generally to work smarter and safer in a more efficient and cost-effective manner.”