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These types of investments can also reduce risk by maintaining operational integrity to help reduce the frequency of accidents or other abnormal events and help mitigate their negative impact on safety, environment, and profitability of the pipeline or relevant oil & gas facility. This applies whether it’s an offshore, subsea, or onshore oil or gas facility.
According to industry sources, there are more than 2.5 million miles of operating pipelines; enough to circle the Earth at the equator almost ten times over. Over the next five years, industry sources forecast the need to install over 60,000 miles of new transmission pipelines globally to keep up with the demand from increased production from both unconventional and conventional oil and gas projects. ARC believes leak detection technology would be needed for a good percentage of these pipelines.
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Keywords: Leak Detection Systems (LDS), Oil, Gas, Safety, Selection Criteria, ARC Advisory Group.