The oil and gas sector has recognised structural integrity assessment of ageing platform for prospective life extension as a rising concern, particularly in encountering the randomness of the harsh ocean environments. This condition leads to uncertainty in wave-in-deck load estimates and a high load level being imposed on offshore structures. This emphasises the necessity of enhanced reliability, as failure might result in inaccessibility because of the uncertainties related to long-distance services, such as accuracy of predictions of loads and responses. Even though the established guidelines present a fundamental assessment, additionally, comprehensive rules are required. This paper performed a reliability analysis incorporating practical approaches that can more accurately represent time-dependent structural deterioration. The following two procedures have been adopted by a majority of significant oil and gas operators to monitor the safety and integrity of these structures: a) Ultimate Strength Assessment (USA) method and b) Reliability Design Assessment (ReDA) method. A comparison of these two reliability approaches was performed on selected ageing jacket structures in the region of the Malaysian sea. The comparative findings, namely, reserve strength ratio (RSR) at various years of the return period (RP) and ratio value for risk of failure regarding the probability of failure (POF), provided a check and balance in strengthening confidence in the results. The findings showed that the structural components might safely survive either using the USA and ReDA method in such conditions, as the reliability indexes were determined to be satisfactory compared to allowable values from ISO 19902 design specifications. Therefore, these evaluations were determined to control the risk level of the structure during the remaining of its lifetime and undertake cost-effective inspections or mitigation strategies when necessary.