The corrosion assessment of a pig receiver and gas lift riser following the failure of the gas lift is discussed in this dissertation. Corrosion evaluation is a critical component of asset and facility management. Most equipment/system failures are caused by a lack of corrosion evaluation and poor material selection. In general, an effective corrosion evaluation should be carried out to solve this problem. This dissertation outlines a risk-based assessment that was conducted to determine an appropriate non-destructive testing method for the pig receiver and gas lift riser. Internal examination was performed using the chosen non-destructive testing method and the corrosion rate was determined using API 510 Standard. The minimum thickness required for the gas lift riser was obtained using ASME B31.3, and the minimum thickness required for the pig receiver was calculated using ASME Section VIII Div. 1. General visual inspection was also conducted in accordance to API 570. Both the pig receiver and the gas lift riser were deemed to be fit to remain in operation under acceptable operating conditions (temperature, pressure, etc..) after examination. External coating degradation, crevice corrosion and rust on the surface of the gas lift riser were discovered during a general visual inspection (GVI), however this did not preclude the equipment/system from continuing service. To plan inspections or estimate the maximum inspection frequency during routine inspections, the remaining life of the pig receiver and gas lift riser was calculated.