The Subsea Equipment Australia Reliability (SEAR) joint industry project (JIP) is a partnership led by Wood with participation from a group of operators including Chevron Australia, ConocoPhillips, Inpex, Santos, Shell Australia, and Woodside. Now delivering Phase 6, the JIP is focused on collaboration and knowledge-sharing to improve the competitiveness of Australia’s oil and gas industry by addressing critical challenges associated with premature subsea-equipment failure. The complete paper provides an overview of the JIP and outlines lessons learned and value created.
Background
The SEAR JIP was initiated in 2014 with an aim of generating significant cost savings by improving subsea-equipment reliability and design for Australian operations, a goal best achieved through collaboration and knowledge-sharing. A reliability database was developed to collect offshore-operations failure information from SEAR members.
