Risk Based Inspection on Gas Processing Plant

This report describes a study of risk based inspection conducted on Gas
Processing Plant focusing only on relief valves. The main purpose of this study is to
fmd out whether risk based inspection is actually beneficial for conducting an
inspection especially in terms of cost savings and risk management. The risk based
inspection is a method of delivering and identifying highly risk equipment by
calculating each risk level by means of optimizing the data collection. Risk is
defmed as a combination of probability of failure and the consequences of failure of
equipment. The major findings of this study are the determination of risk ranking of
each equipment represented by risk matrix and the cost comparisons of inspection
between applying RBI and not applying RBI. The result shows that RM 410000 can
be saved if RBI methods were employed. These saving were achieved by
systematically planning on how, where and when to inspect the relief valves