Frequently, a comprehensive due diligence process is required when a company evaluates a potential asset acquisition. It can become more complex in the pipeline industry considering the number of stakeholders that can be involved to assess scope, schedule, estimate and the risks associated with such a project.
When a pipeline company contemplates an acquisition of an existing pipeline system, the Integrity group becomes a key supporter during the process. The condition of the pipeline shall be scrutinized in order to evaluate and manage the integrity risks associated with the project, which will contribute to successfully securing the business opportunity.
A well-established process facilitates and supports effective analysis. This paper will review the methodology that has been used by a pipeline company to assess the integrity of potential asset acquisitions; challenges and the overall pipeline company’s experience will also be covered.