Leakwise Introduces an Interactive Calculation Model to Oil Spill Cost Estimation
Leakwise is excited to unveil an interactive model that provides a theoretical cost analysis of oil spill incidents. Recognizing the significant risks that oil spills present to the environment and the operations of oil-related facilities, Leakwise’s model serves as a crucial tool for understanding the potential financial consequences.
The model, rooted in extensive research including Dr. D. Etkin’s 2004 work for the EPA and Dr. H. Ruitenbic’s 2013 case studies for the Trans Mountain Pipeline Project, offers a range of cost estimates. It illustrates that expenses can vary from millions to potentially hundreds of millions of dollars, depending on factors such as the volume of the spill and the environmental impact.
Highlighting the importance of early detection, Leakwise advocates for the adoption of its oil leak detection sensors. The Leakwise sensors are designed to provide immediate alerts, within less than 30 seconds, enabling swift activation of safety measures to prevent environmental catastrophes.
The affordability of Leakwise’s sensors, with a modest one-time investment, underscores their value in safeguarding against the extensive costs associated with oil spills.
Leakwise’s commitment to innovation and safety is further evidenced by the successful deployment of over 6,500 units worldwide, across 50 countries. These sensors have proven their reliability and efficiency, operating continuously without the need for maintenance, save for routine testing.
Investing in Leakwise’s early leak detection is an economically prudent decision that can save money, protect the environment, and mitigate the severe risks that oil spills present to companies across the energy industry.
Please contact us to run the model with your dataset describing a theoretical oil spill event, and we will get back to you with a detailed cost estimation calculation of such an event.
