Our vision: Reduce subsea equipment failures through collaboration and knowledge sharing
The Subsea Equipment Australia Reliability (SEAR), a JIP run by Wood, was established in 2014. With a remit to reduce subsea equipment failure and costly intervention in Australian waters, the JIP is delivered in collaboration with 6 major Australian based operators.
The Australian environment is uniquely harsh on subsea equipment. The SEAR JIP aims to contribute to improved subsea equipment design for offshore Australia, to avoid time consuming and costly offshore repair campaigns. The ability to better understand subsea equipment failures and intervention requirements has the potential to offer operators significant cost savings, i.e. maximizing equipment reliability and availability and therefore production uptime while reducing downtime and intervention cost.
The SEAR JIP provides an opportunity for operators and vendors, both locally and globally to share, collaborate and to address challenges as a unified industry, providing opportunities for standardization, life extension and development of new technologies.