PinnacleAIS announced Monday that it has commenced work with BHP Billiton to provide a best-in-class, integrated mechanical integrity program at its Angostura facility in Trinidad and Tobago.
"We are honored to be selected by BHP to provide our services and technology," said Ryan Sitton, founder and CEO of PinnacleAIS. "Industry leading techniques that we have developed across the downstream markets prove to be readily transferrable to upstream assets, and we are thrilled to leverage that technology and achieve the same benefits in additional segments of our industry."
The project is primarily focused on implementing a state of the art Mechanical Integrity (MI) program by utilizing Risk-Based Inspection (RBI) technology. The implementation will be conducted at a new oil platform, called Angostura Gas, and Pinnacle's team will work directly with the BHP commissioning and engineering teams to develop and apply the program for the facility prior to start-up. These activities aim at realizing a notable increase in safety and reliability while reducing risks and operating costs.
PinnacleAIS has been providing asset integrity services to the oil and gas industry since 2006 and has already announced oil and gas projects with Chevron and BP. The Angostura rig is primarily an oil gathering operation and is expected to reach around 100,000 barrels per day. It is targeted to begin production at the end of 2010 and expected to have a production life between 19 and 24 years. The three equity stakeholders include BHP (45%), Total (30%), and Talisman Energy (25%).
PinnacleAIS provides BHP Billiton, along with its growing roster of customers, with unique, integrated technologies and services for asset integrity, reducing the need to hire multiple contractors by streamlining projects to ensure that all initiatives are completed at the same time. The company's integrated solutions span four key areas: Mechanical Integrity, Process and Operational Integrity, Compliance/Process Safety Management and Business Improvement, which can be interwoven to provide a complete model that fully optimizes asset integrity.
Based in Houston, TX, PinnacleAIS is a leading technology and services provider, specializing in wholesale improvements in asset integrity for the petroleum and chemical processing industry. PinnacleAIS is a member of numerous trade organizations including The American Petroleum Institute (API). PinnacleAIS was founded in 2006 and is privately held.
BHP Billiton plc is a diversified natural resources company. The Company is engaged in extracting and processing minerals, oil and gas from its production operations located primarily in Australia, the Americas and southern Africa. It sells its product worldwide with its marketing activities centralized in Singapore, The Hague and Antwerp. The Company operates in nine customer sector groups (CSGs): petroleum, aluminum, base metals, diamonds and specialty products, stainless steel materials, iron ore; manganese, metallurgical coal, and energy coal. Its Petroleum CSG is a global oil and gas business with producing assets in six countries and exploration opportunities in a further six countries. During the fiscal year ended June 30, 2009 (fiscal 2009), the Company realized annual production volumes of 137.2 million barrels of oil equivalent. Its sells its crude oil production to refiners worldwide at market prices.
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