The paper discusses some of the various types of risk analysis methods (PHA, HAZOP, FTA, What if? etc.) and from a practical viewpoint draws conclusions on their application to Onshore and Offshore exploration and producing oil and gas facilities. The advantages and disadvantages of each method are reviewed. The costs associated with each method in conducting the study are compared with the benefits of carrying out the study.

Keywords:
hazard, spe 22035, probability, risk and uncertainty assessment, upstream oil & gas, practical application, basic event, fault tree analysis, consequence, american institute
Subjects:
Safety, Risk Management and Decision-Making, Risk, uncertainty, and risk assessment
Copyright 1991, Society of Petroleum Engineers
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