Minimising Operational Risk and Cost

It is very easy to overlook the impact that the failure of a “simple” bolt can have on your company  - but due to their prevalence there is a lot at stake as inaccurately tensioned, loosened or faulty bolts can have major consequences.

Operational risk is significantly increased, infrastructure failures can be expensive to remedy, production lost, energy supplies disrupted, lives and livelihoods put at risk as well as possible long term damage to a hard earned corporate brand image.
According to Ernest and Young, (EY) four of the top ten issues facing Oil and Gas Industry are:
  • Cost Containment - It has become increasingly important for companies to manage their costs even more effectively.
  • Human Capital Deficit - Twenty-two per cent of oil and gas respondents (EY Oil and Gas Survey 2013) indicated that a lack of qualified personnel was impacting their operations.
  • New operational challenges generating new operational risks
  • Health, Safety and Environmental Risk reflecting both increased public pressure and more complex operational challenges
On the other hand, correct bolt tensioning is time consuming and due to not being an exact science, requires skilled personnel using specialist equipment, is often expensive, and due to the human factor has an inherent high margin for error.

At Clarkwood, our primary objective it to develop innovative infrastructure technologies and solutions that enable our customers to reduce their operational risk and costs, as well as removing the uncertainty associated with the bolt tensioning process.