Engineering and Technology - Research article Open Access Logo

Application of quantitative risk assessment on offshore oil & gas industry

Tin Trung Huynh 1, *
Vinh Trong Bui 2
  1. Dept. of Risk Management, Global Maritime (Vietnam) Co. Ltd. Ho Chi Minh City, Vietnam
  2. University of Technology, VNU-HCM
Correspondence to: Tin Trung Huynh, Dept. of Risk Management, Global Maritime (Vietnam) Co. Ltd. Ho Chi Minh City, Vietnam. Email: pvphuc@vnuhcm.edu.vn.
Volume & Issue: Vol. 17 No. 3 (2014) | Page No.: 62-68 | DOI: 10.32508/stdj.v17i3.1476
Published: 2014-09-30

Online metrics


Statistics from the website

  • Abstract Views: 0
  • Galley Views: 0

Statistics from Dimensions

Copyright The Author(s) 2023. This article is published with open access by Vietnam National University, Ho Chi Minh city, Vietnam. This article is distributed under the terms of the Creative Commons Attribution License (CC-BY 4.0) which permits any use, distribution, and reproduction in any medium, provided the original author(s) and the source are credited. 

Abstract

Production of Oil & Gas in offshore involves some of the most ambitious engineering projects of the modern world, is a prime source of revenue for many countries. It is also involved risks of major accidents which have been demonstrated by disaster on the UK production platform Piper Alpha. Major accidents represent the ultimate, most disastrous way in which an offshore engineering project can go wrong. Accidents cause death, suffering, environmental pollution and disruption of business. To ensure all risks identified and controlled, risk management approaches need applying. This paper discusses the application of quantitative risk assessment approaches and its importance throughout the entire offshore installation.

Comments