This paper applies state-of-the-art integrity management and life extension methodologies to address degradation and failure modes specific to CALM buoy export terminals. The main objectives are to (1) classify the components of the export terminal according to their criticality,(2) establish risk-based inspection and maintenance plans to reduce or mitigate risk to acceptable levels and (3) assess remaining life. The method is applied to a CALM buoy operating off the coast of Colombia. This buoy serves as the oil export terminal for all