PDVSA: An implementation story of risk based asset management
Summary
This white paper is about PDVSA (Petroleos de Venezuela) an oil, gas and petrochemicals company and how they implemented a risk-based AM strategy with TWPL’s help. In 1995 they embarked on a series of ‘bottom-up’ operational reliability initiatives in its refineries and upstream business. Having tried many of the modern reliability and maintenance optimization methods, each with limited success, PDVSA’s approach evolved using a combination of RCM, RBI, TPM, RCA and quantitative cost/risk optimization tools.
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