This work presents a suggestion of risk management strategy to assist Oil Companies to plan and implement proper measures for managing operational safety aspects of drilling operations performed by multiple contractors.

This strategy is presented in form of a work plan, which strongly relies in integrating different safety management practices, including: risk assessment techniques, decision making strategies and risk based audits.

Most of the safety management practices and techniques presented along this work are already known and are usually implemented by Oil Companies worldwide. However, this approach integrates and adapts these techniques in a dynamic and systematic way, with the objective of getting the most of each one of these management practices. Consequently, this work plan shall improve the risk management efficiency of drilling ventures by implementing the right tool at the right time in the proper way, from the planning phase throughout all the operational phase. As this approach was developed for Oil Companies with operations in Brazil, the work plan also considered the compliance with the local Operational Safety Management System Technical Regulation (SGSO), mandatory by the Brazilian National Petroleum Agency (ANP).

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