COVER STORY | PORTFOLIO
“More Tools for the Toolbox”
International Refinery Services (IRS), a specialist in the field of asset integrity management based in Singapore, is the GL Group’s most recent acquisition in a drive to expand the GL services portfolio for the petroleum, oil and gas industry
W hen the credit crisis was already dominating the headlines and front pages around the world, Ger- manischer Lloyd announced its latest acquisition at a press conference in Singapore. Journalists were curious to know how the company’s growth strategy will continue in such demanding times.
The answer came promptly. “Strengthen the global net- work, broaden the service portfolio and become a global engineering solution and service provider,” said Pekka Paa- sivaara, Member of GL’s Executive Board. “With IRS, the GL Group is acquiring substantial expertise in risk manage- ment while boosting our resources in advanced inspection techniques,” he explained. “We will continue to develop the Industrial Services business very aggressively.”
Previous acquisitions in Great Britain, Canada, the USA and Malaysia over the past 18 months had already strength- ened the technical portfolio of GL Group considerably. The addition of IRS will enable GL to provide extended services specifically to the oil and gas industry in the Asia-Pacific region.
ed. IRS first began to work with GL five years ago in joint projects located in Brunei, Singapore and Egypt. Doug Pauling continued: “We established a close relationship with GL. We contributed additional resources and also helped build one of the modules in GALIOM.”
GALIOM is Germanischer Lloyd’s asset integrity man- agement tool designed to ensure reliable and economical plant operation throughout the asset lifecycle. The services offered by the two companies are perfectly complementary, Doug Pauling stresses. “You might say, we are contributing additional tools to the asset integrity toolbox of GL!”
John Lockwood, IRS’ risk and safety expert and GL’s new Vice President Risk & Process Safety, is convinced the merg- er will produce synergisms. “We do what we call total as- set integrity management. The scope of our services goes far beyond inspections.” IRS’ risk management toolbox in- cludes various management processes and methods such as HAZOPS (Hazard and Operability Study), QRA (Quan- titive Risk Assessment), and RBI (Risk-Based Inspection), used to identify, evaluate and monitor risks associated with an asset.
“We have worked with GL before and see this as a perfect match,” IRS Managing Director Doug Pauling comment-
Considering the current economic situation, is this a good time to sell asset integrity concepts? The experts at IRS are convinced it is. “The industry cannot wait for a
REFINERY. Asset integrity management for more safety and efficiency.