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.
-
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. -
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.
-
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.
-
Cost estimation for facilities depends on early concept selection and critical inputs, often complicated by uncertainty in one or more of the critical inputs. Empirical cost models and cost modeling methods using these inputs vary in degrees of scope, comprehensiveness, and robustness.
-
Engineers in the oil and gas industry make tough decisions for a wide variety of issues, including risk and safety, and about design and other types of tradeoffs, as well as operational assessments.
Page 19 of 19