Semi-quantitative approach to prioritize risk in industrial chemical plants aggregating safety, economics and ageing: a case study

In the European Union, many of chemical plants are over 50 years old and more than half of the major accidents were caused by loss of technical integrity and ageing of equipment. Therefore, including ageing issues in the risk evaluation and prioritization is crucial. Literature and initiatives have focused on providing structured tools to evaluate the performance of systems based on three pillars: safety, economics and ageing. However, available strategies and practices tend to overlook a global view fostering specific solutions and resulting in controversial solutions. A knowledge gap is represented by the lack of rapid risk assessment tools that simultaneously embed safety, economics and ageing when assessing the risk. The present work develops a semi-quantitative methodology to prioritize risk based on unbiased and aggregated safety, economic and ageing indicators. The procedure builds on matrices where such indicators are systematically embedded. As a result, process equipment is ranked, and practical recommendations are provided, including periodicity and intensification of inspections. A case study discusses implementing the proposed methodology in a Major Accident establishment that produces agrochemicals. The implementation has facilitated the Company to prioritize risk reduction actions, improve resource allocation, and adjust the maintenance plan of equipment, while also pursuing legislation requirements.