This document describes a means of calculating a credible corrosion rate for establishing integrity reassessment intervals for a pipeline that has sustained corrosion-caused metal loss. The method uses corrosion pit depths determined at a point in time by either direct measurement or inferred indirectly from inspection data or a combination of both. The history of the pipeline can be used to determine logical points in time for the corrosion to have initiated. Probability density functions are used to represent the time of corrosion initiation and pit depth data, and through a Monte Carlo simulation the 80 percent upper confidence bound corrosion rate is determined.

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