Project Benefits

Tangible results from this industry-led initiative include:

  • Learn From Member Experience » Quickly Solve Tough Problems

    Through steering committee meetings, email discussions, and one-on-one interaction, each participant can learn from other member's experiences. Learnings may include industry best practices for operating in specific conditions or first-hand experience with particular equipment.

    Learnings gained from frequent participant interaction help operators resolve complex issues and optimize production.

  • Access to Data Collection Software » Ensure Quality Data

    High quality reliability data is critical to good run-life analysis. The Data Input Sheet (DIS), developed by the JIP, ensures that the data collected by Participants complies with the standards set out by the JIP and is consistent with existing data.

    Decision-makers can rely on quality reliability data, rather than on educated guesses or vendor indications, to support selection of an optimal solution for a specific application.

  • Become Familiar with Reliability Analysis » Ensure Correct Conclusions

    A strong understanding of reliability theory and concepts is essential when performing reliability and statistical analysis to avoid misleading or incorrect conclusions.

    Good reliability analysis can highlight areas for improving PCP reliability.

  • Perform In-Depth Analyses » Optimize PCP Run-Life

    Project reliability analysis tools allow members to perform in-depth analyses to identify issues resulting in reduced run-life. Once issues are identified, proper design and operating practices can be implemented to improve reliability and increase production.

    In-Depth data analyses allow Participants to avoid "guessing" and identify optimal solutions that lead to favourable economic results in both new and mature fields.

  • Identify and Eliminate Technology Limitations » Expand Application Range

    Through data analyses and technical discussions, limitations in available technology can be identified. Participants can then work with vendors to focus on relevant technology developments that expand the application range of PCPs.

    Through step-change advancements in technology, the application range of PCPs can be expanded to include new fields.