Decision process

The Influence of Risk Analysis on the Economics of Carbon Steel and CRA Clad Flowlines (14035)

By B.D. Craig and R.S. Thompson. Presented at the 1995 Offshore Technology Conference, Paper OTC 7788, Houston, TX, May 1-4, 1995. Recently a method was presented to assist in making the decision to install corrosion resistant alloy (CRA) pipelines or inhibited carbon steel. This method incorporated risk into the decision process. Previous economic analyses comparing solid and clad CRA pipelines to those constructed from inhibited carbon steel have only taken into account the costs for each option without considering the probability or cost of failure. This paper extends the earlier work by examining the effects of varying the assumed probability of failure of the clad pipeline and introducing utility effects.

Download the PDF

Related Information