For the purpose of this paper Controlled Pressure Drilling (CPD) here is referred to as underbalanced reservoir drilling, managed pressured drilling or performance drilling. Since the operations differ between underbalanced drilling and traditional overbalanced drilling, risk management plays a key role in ensuring drilling operations are processed safely to protect people, the environment and assets.

Firstly, this paper gives a brief introduction of controlled pressure drilling. Secondly, the paper discusses the key risk management techniques applied in one organisation, such as the risk matrix, SURE, Job Safety Analysis (JSA), Hazard Identification Studies (HAZID), Hazard and Operability Studies (HAZOP), Bow-tie type risk analysis, etc. Thirdly the paper discusses the necessary HSE documentation required to integrate risk management techniques into a CPD project as a road map to a successful project. Lastly, using one project completed in Asia Pacific to elaborate the risk management process and the challenges faced over the years.

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