AUSTIN, TEXAS – ARMS Reliability has been engaged by MODEC – leading global specialist for Floating Production Storage and Offloading (FPSO) vessels within the offshore oil and gas industry – to help optimize the maintenance build of a new FPSO capital project for their client in Mexico.
MODEC is responsible for the engineering, procurement, construction, mobilization, installation, operation and maintenance of the FPSO called MV34 that’s set to begin oil production in 2021. The FPSO will be capable of processing 90,000 barrels of crude oil per day with a storage capacity of 900,000 barrels of crude oil.
With Asset Strategy Management platform, Cordant™ Asset Strategy®, and the world’s largest component strategy library within, MV34 will utilize industry specific component maintenance strategy libraries and asset make/ model criticality considerations to build optimized reliability strategies. Cordant™ Asset Strategy will enable the ARMS project team and MODEC to rapidly develop and deploy the maintenance strategies for one asset and simultaneously make the change across all like assets.
The yearlong project began in January of 2020 and will be completed in multiple phases, ensuring all local and client regulations and requirements are met. Once all phases are complete, MODEC MV34 will have optimized maintenance strategies for over 50,000 assets loaded into their EAM system.
The FPSO leader chose ARMS Reliability based on their technical capabilities and proven experience completing maintenance builds and maintenance strategy optimization on new and existing projects in the oil and gas industry. Additionally, MODEC recognized the value in ARMS Reliability’s global engineering team and the ability to service the multilingual aspects of the build.
“We’re excited to partner with the MODEC team to develop optimized maintenance strategies and boost asset performance with Cordant™ Asset Strategy. This project will allow MODEC MV34 to deliver against their production goals and objectives and ensure the maximum lifetime value of their assets,” said Jason Apps, CEO, ARMS Reliability.
