Safety is as essential part of today’s offshore oil & gas industry business in view of the associated hazards, where safe operation avoid exposing the personnel to loss of life and the companies to property loss, reputational damage, or corporate liability.
By managing the associated risks (which could be Technical, Commercial, Political, or Environmental) to an acceptable level (not zero). Risk is considered the combination of the likelihood of occurrence in terms of the probability and the impact or the consequence of a fail to occur.
Two standard methods are usually adopted which are Qualitative Risk Assessment/Quantitative Risk Assessment (QRA). The QRA process has 5 main parts;
As an evaluation of the actual needs of the specific facility to be designed, engineering standards, codes of practice and specifications were prepared and are in continuous development for assuring reliable, safe & economic standards for the whole project life cycle. International standardization organizations developing offshore standards are (DNV, ASME, API, BS…)