Risk management
With funding opportunities improving, developers and researchers are focused on shortening project learning cycles and reducing uncertainty to attract more capital and speed deployment.
The latest edition of ISO 20815 extends the petroleum industry's production assurance and reliability management framework to carbon capture, hydrogen, ammonia, and wind assets.
Panelists at the SPE Subsea Well Intervention Symposium discussed where AI is delivering value today, where risks remain, and how engineers can best determine its usefulness.
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At a recent global meeting of operations research and management sciences professionals in Houston, an ExxonMobil research executive stressed the importance of optimization and data analytics to company operations. -
Safety risks of drilling operations are widespread, with potentially significant consequences. Managing these safety risks is key, and intelligent safety risk software can help.
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Many of the biggest players in the industry—particularly the majors—have adapted their portfolios for “lower for longer” and are once again sanctioning big projects. While we are not back to the heady days of 2010–2014, we have left behind the dark days of 2015–2016.
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Sizing a person’s “operating box” for making decisions and taking actions to make room for ingenuity and affordable mistakes provides opportunities for his and the organization’s learning. Which factors affect the resizing of the box and how can the limits be adjusted to encourage continued growth?
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The average project loses 22% expected net present value at authorization, and only 60% of projects meet all their business objectives once they are completed. Executives can do a lot to increase capital project effectiveness by being committed to the stage-gate process.
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This paper introduces dynamic risk modeling and reports on a 2016 proof-of-concept demonstration of the emergent capability.
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ADNOC’s authority on technology maturity describes the case studies used to test the company’s new technology qualification process.
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Many of the worst oilfield incidents have been attributable to human factors. Consequently, a corporate well-control manual was refreshed to include human factors in the management of well-control incidents.
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In an effort to better understand well issues, a global offshore drilling contractor created a program of fully integrated deepwater-DP-drilling simulation exercises to scrutinize all critical aspects of deepwater well-control operations.
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This paper describes the integrated approach taken by Petronas to reinforce effective management of fatigue.
