OXAND’S TECHNOLOGIES AND INNOVATIONS
SIMEO™-STOR and the Performance & Risks (P&R™) methodology : wells integrity
Oxand has developed a risk-based management methodology: P&R™ Performance & Risk, based on an in-house software platform called SIMEO™-STOR.
From the collected data on the wells and their near environment, the P&RTM methodology proposes a quantitative risk assessment provided by a probabilistic CO2 leakage quantifier along the wells.
This software includes:
- Incorporation of uncertainties associated with input parameters
- Material ageing phenomena
- CO2 flow modeling along the well,
- Interpretation of well integrity in terms of risks.
The result for our clients is an enhanced knowledge of the risks of their project and clear, definite recommendations for a better management of their infrastructure.
SIMEO™-ERM, risk-based project management
To guarantee the successful integration of risk management in a company, a user-friendly and appropriate tool is necessary.
SIMEO™-ERM contributes to a global risk decrease for a company or a project. It enables :
- The adoption and practical implementation of a risk management policy,
- Clear viewing of variations in a risk profile over time and tracking of ongoing risk mitigation actions
- Facilitation of communication in terms of risks management