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Risk-Management Tool Developed by NASA Could Help Offshore O&G Industry

Society of Petroleum Engineers, May 27, 2016

A risk modeling tool developed by NASA might be helpful for offshore operators looking to reduce or even prevent low-probability, but high-consequence accidents, according to David Kaplan, a NASA safety official. The quantitative tool, called probablistic risk assessment (PRA), has been used to model and manage risk in the space shuttle program and for the International Space Station (ISS).  PRA has helped NASA understand risks that arise from small deviations from standards and that increase as the deviations become accepted, Kaplan said. In suggesting that PRA could help the oil industry to improve risk management, Kaplan noted the similarity in size and isolated operating environment between the ISS and a facility such as a spar or mobile offshore drilling unit. In all of these facilities, maintenance is critical and repair of critical components is essential.

 

Click here to read the full article from Society of Petroleum Engineers.


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