Publications

Teixeira, A.P., Palencia, O.G. and Guedes Soares, C. (2019), “Reliability analysis of pipelines with local corrosion defects under external pressure”, Journal of Offshore Mechanics and Arctic Engineering, Vol. 141, pp. 051601-1 - 051601-10

This paper analyses the uncertainties associated with wave energy projects in the ocean industry, and their effect on project cost, feasibility and cost-competitiveness. Risk assessment concepts are used to perform an appraisal on project feasibility considering project uncertainties and uncertainty propagation analysis through Monte Carlo Simulation (MCS) technique. A case study is presented considering Portugal as the location for potential projects involving 1, 4, 8 or 32 units of the Pelamis wave energy converter. The results indicated that larger scale projects are more likely to be feasible due to positive risks of cost reduction due to scale, being the reduction of the annual operation and maintenance costs the most influential aspect. Annual productivity is another important aspect, while device cost and interest rate also have significant influence on feasibility. It is demonstrated that considerable information might be obtained from the approach adopted.

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