Meridium Adds API 580/581, Linear Assets to APM Mechanical Integrity

ROANOKE, Va., April 22, 2015 /PRNewswire/ -- Meridium®, Inc. (www.meridium.com), the global leader in asset performance management (APM) software and services, today introduced an enhanced mechanical integrity (MI) solution as part of version 4.0 of Meridium Enterprise APM®. New to the Meridium APM MI solution are comprehensive risk based inspection (RBI) assessments based on the latest API 580/581 v3 specifications and ASME B31.8s and API 1160-based Pipeline Integrity Management capabilities.

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"The Meridium APM Mechanical Integrity solution is based on effective strategies that leverage technology platform, mechanical integrity, skill improvement and data collection system integration," said Michael Warren, Product Manager, APM Mechanical Integrity. "The knowledge and business vision behind the solution allows the integration of information and analytical insights based on response time, degradation mechanisms detection, and inspection plan quality for failure prediction."

To meet the requirements of API RP 580 and 581, the solution provides:

• Calculation of risk as a combination of probability of failure (POF) and consequence of failure (COF)
• Inspection planning using risk over time
• Presentation of results in a risk matrix
• Risk calculations for vessels, piping, tanks, bundles and pressure relief devices (PRDs)

Meridium's APM Mechanical Integrity for Pipelines solution enhances the core APM Mechanical Integrity capabilities (RBI, Inspection Management, and Thickness Monitoring) for linear assets. This enhanced functionality covers onshore pipeline systems that transport gasoline and other hazardous liquids, enabling users to manage fixed, rotating, and linear assets within a single solution.

The primary pipeline integrity management features include the following:

• Risk Calculator – A well-documented approach for internal and third party audits, where risks are calculated on each specific threat based on Recognized and Generally Accepted Good Engineering Practices (RAGAGEP ) standards
• Intelligent Strategies – An efficient maintenance planning and execution process leveraging an automatic generation of an inspection effectiveness report, based on user-defined strategies for each associated threat, coupled with the flexibility to modify inspection methods, inspection intervals, and target inspection effectiveness levels
• In-line Inspections (ILI) Data Management – Capability to ingest and visually represent the data collected during ILI
• Geographic Information System (GIS) Capabilities – GIS integration to visually represent for inspections, recommendations, and repair activities

By improving the mechanical integrity and availability of industrial equipment, asset intensive companies can achieve and maintain increased uptime and asset availability resulting in greater profitability and reduced risk as a means to achieving operational excellence. Integrated asset maintenance and inspection programs act as insurance policies that help guarantee efficient, safe and reliable operations while processing on-spec products without fear of mechanical failure or production disruption.

About Meridium
Meridium is the global leader in asset performance management (APM) software and services for asset-intensive industries. Meridium increases the availability of assets, improves safety, optimizes cost and lowers risk for our global clients in more than 80 countries with more than 1,200 licensed sites around the world. Through our unique software developed in collaboration with our clients, we predict and prevent asset failures with intelligent asset strategies. Founded in 1993 and headquartered in Roanoke, VA (USA), with offices around the world, Meridium is the pioneer of APM and continues to drive innovation, leveraging the data from sensors, devices, systems and smart equipment to minimize unplanned events, incidents and downtime.

SOURCE Meridium, Inc.

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http://www.meridium.com