ROANOKE, Va., Aug. 7, 2012 /PRNewswire/ -- Meridium® Inc., the global leader in asset performance management (APM) software and consulting solutions, has been selected by Apache as its global asset integrity management system.
"Apache's global portfolio requires the capacity to operate on a large scale in a range of environments," according to Jon Graham, VP EH&S for Apache. "Meridium's depth and breadth of APM technology experience brings a wealth of expertise to our asset integrity management initiative."
During the initial scope of the project, Apache will deploy the best practices and software of Meridium's APM Foundation and Mechanical Integrity work processes. The Meridium APM Foundation work process includes the framework for a living asset-management strategy, including the use of existing data and structures from other systems, such as SAP®, and provides the value of integrated performance data in the right context to identify opportunities for improvement and focus improvement efforts. When applied throughout the life cycle, the Meridium Mechanical Integrity work process and tools (including Risk Based Inspection, Thickness Monitoring and Inspection Management) produce continuous improvement in containment risk mitigation and fixed equipment cost optimization for Apache.
Apache will also utilize Meridium's Asset Strategy Management (ASM) module, which provides a better way to manage asset strategies using a risk-based approach. ASM offers a common methodology to define actions and their mitigated risks, driving the evaluation of existing plans with basic risk analysis. Managers can validate existing plans or consider strategy options to update plans to be more effective in managing risk.
"Meridium is excited to partner with a company like Apache, whose commitment to safety, innovation and performance is well known in the oil and gas industry," said Bonz Hart, Meridium CEO. "Apache's choice of Meridium as their global APM technology and services solution will support their continued growth and global expansion through improved cost-containment, risk mitigation and overall asset strategies."
Meridium is the global leader in asset performance management software and services for asset-intensive industries. Meridium lowers the risk of harm to people, our planet and profits by predicting and preventing physical asset failures. With Meridium's unique enterprise analytics, our clients minimize production downtime while improving safety. Meridium is headquartered in Roanoke, VA, USA, with offices around the world including: Houston, TX, USA; Dubai, UAE; Bangalore, India; Ricasoli, Malta; and Perth, Australia. www.meridium.com
Established in 1951, Apache Corporation has grown to become one of the world's top independent oil and gas exploration and production companies with US$52 billion in total assets as of year-end 2011.
SOURCE Meridium Inc.