Not all equipment failures result in a hazardous situation, but all failures hurt a business’ bottom line. In the upstream energy business, failures in offshore applications have the highest impacts (rig time, the potential for loss of well control, and environmental damage), but failures in land wells also have significant economic impacts (loss of access to reserves, intervention). In many cases, the potential for human injury or fatality exists.
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Not all equipment failures result in a hazardous situation, but all failures hurt a business’ bottom line. In the upstream energy business, failures in offshore applications have the highest impacts (rig time, the potential for loss of well control, and environmental damage), but failures in land wells also have significant economic impacts (loss of access to reserves, intervention). In many cases, the potential for human injury or fatality exists.
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