Risk management
Barzan plant explosion that killed 13 and injured 66 occurred 2 days after production was restarted following a scheduled shutdown in December for routine maintenance.
This article from the SPE Integrated Reservoir Management Technical Section (IRMTS) addresses decision timing across the reservoir cycle.
This guest editorial from the Center for Injection and Seismicity Research (CISR) at The University of Texas at Austin details the emerging risks posed by injection in Texas and what steps might be taken to mitigate them.
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Saudi Aramco, BP, and Schlumberger pride themselves on staying at the forefront of digital technology development and deployment. But an equally daunting challenge for the industry heavyweights is keeping their ever-expanding digital systems secure. -
The transaction is planned to be structured as a spin-off of TechnipFMC’s onshore/offshore segment to create SpinCo and RemainCo. The separation is expected to be completed in the first half of 2020.
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This paper describes a comprehensive optimization-under-uncertainty work flow that combines a simulation-based approach with semiautomatic work flows and high-speed computers to facilitate the process of decision-making for investors.
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Buildings that are manned or house critical equipment ideally will be a safe distance from potential explosions. Maintaining the required stand-off distance, however, is not always possible. This paper discusses challenges and best practices for blast protection of plant buildings.
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Digitalization and new technologies are disrupting old practices and shaping a new safety landscape for the oil and gas industry. At OTC, a panel sponsored by the Center for Offshore Safety looked at the effects of some of these new technology trends.
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Companies in the petroleum industry, from exploration and production, to transportation, refining, and distribution, operate around the clock. This paper intends to raise awareness on the impact of fatigue in the petroleum industry and recommend a framework for fatigue risk management.
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Culture, not controls, will drive the next phase of industry safety evolution, said presenters at a recent HSE conference.
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This new conceptual framework for capital-allocation management, known as advanced risk and capital-allocation management (ARCAM), aims to synchronize risk, strategy, and capital decision modeling to provide better visibility of future performance of capital-investment opportunities.
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The use of data-intensive decision making and smart risk-management solutions has resulted in the improvement of the ethical foundations underlying the industry. These digital tools and machine-based cognitive processes for risk-avoidance have also helped restore the public’s trust in the industry.
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The memorandum on integrated and unified risk management in the petroleum industry aims to help companies continue developing their own activities in this area.
