Risk management
The SPE Asset Management Technical Section (AMTS) is teaming up with the University of Houston to launch a pilot program that advances asset management practices and supports the growth of energy professionals worldwide—setting a model for future collaborations between universities and SPE technical sections.
The SPE Management Technical Section has been officially renamed the Asset Management Technical Section. The new name better reflects the section’s focus on asset management as a core discipline in the upstream oil and gas industry.
This paper describes a tool that complements predictive analytics by evaluating top health, safety, and environment risks and recommends risk-management-based assurance intervention.
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A sharp rise in seismic events in some areas of the United States where oil and gas production is booming is leading regulators and the industry to examine whether the two are related. -
Every process plant presents a high number and diversity of valves that control the flow of feedstock, products, and service liquids and gases.
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This paper illustrates and discusses inherent flaws in RMs and their potential effect on risk prioritization and mitigation, addressing several previously undocumented RM flaws.
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This paper presents the principles and approaches used in API RP 17N, and discusses what it is in general and why it was written. It also describes the status of its recent update.
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The United States’ top offshore regulator said his agency is adopting new policies and measures to improve its working relationship with the offshore industry.
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As low as reasonably practicable (ALARP) is common for management of safety risks, but harder to apply to environmental risks. This paper explores the differences and proposes a modified method to support environmental risk analysis.
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We are comfortable with the reality of swift intuitive judgement being the primary decision-making approach of experienced engineers in emergency situations. But as the engineer in the situation has less experience available to him/her, how do psychological factors affect outcomes?
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The understanding of decision-making processes is critical in ensuring project success and safety. Project failures—and disasters—can result from the lack of understanding or implementation of sound principles.
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In spite of massive investments in project management best practices and the organizations to implement them, major oil and gas projects continue to experience cost overruns and schedule delays. A root cause that has not been sufficiently explored is the built-in bias toward overconfidence.
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In this paper, a data-driven model is applied to derive optimum maintenance strategy for a petroleum pipeline. The model incorporates structured expert judgment to calculate the frequency of failure, considering various failure mechanisms.
