Ten Lessons on Risks: Principles, Methods and Applications in the Petroleum Sector

This book presents a comprehensive introduction to offshore risk management in its life cycle, concentrating on the principles, the main methods, and applications in the petroleum sector. The emphasis is very much on the major accident risk of social-technical systems.

This book contains ten lessons addressing the most important topics of risk principles, methods and applications in the petroleum sector. The first lesson provides readers with the required knowledge on how to understand risks. In the second lesson, the professionals will have a further understanding of what a risk management is and the different steps that make out the process. This is followed by the third lesson, which demonstrates the importance of learning from past experiences and provides the methods for accident investigations. The fourth lesson covers the main techniques for different phases of risk analysis. Lessons 5–6 discuss the philosophy of risk-based design as well as emergency response. In lessons 7–8, the authors focus on the important topics of barriers and indicators for major accident risk. Decision framework for risk management is elaborated in the ninth lesson. In the final lesson, authors discuss the most important topic of ethics in risk assessment.

Readers of this book gain a new insight into risks.

Xing-Wei Zhen is an associate professor of ocean engineering at Dalian University of Technology. He has more than 15-year experience in the academic research, consulting, teaching as well as project management. He has generated more than 100 scholarly works, including peer-reviewed publications, granted patents, software copyrights, etc. He works together with Prof. Jan-Erik VINNEM since the year 2018 in the fields of operational risk modelling, online risk analysis, barrier management, major accident risk indicators, and accident investigations. In addition, Xing-Wei ZHEN has broad research interests. He once invented the artificial seabed unit to extend the application of shallow-water rated subsea production systems in ultra-deep sea. He has also independently designed and constructed a large-scale internal wave experimental flume to explore and demystify the unique hydrodynamic phenomena of the underwater waves. However, his true passion lies in applied risk studies that he finds meaningful and beneficial to the society.

Jan-Erik Vinnem is a world-renowned scholar in offshore risks and a professor emeritus at Norwegian University of Science and Technology, as well as a member of Norwegian Academy of Technological Sciences. He is the founder of Safetec Nordic AS and Preventor AS. He is the founder chairman and an honorary member of ESAR Norway and the chairman of ESREL conferences in 1998, 2007 and 2018. He is the project leader for developments of OLF Guideline 064, ISO 17776 and NORSOK Z-013 standards. His main research topics during the last 10 years have been management of barriers and monitoring of major accident risk, with extensive projects for Havtil and petroleum companies. He is the author of five books in risk analysis and has published more than 300 scientific papers in international journals and conferences. He is a recognized lecturer in risk management and risk analysis, and has conducted training courses for corporate clients in Norway as well as for international clients and research institutions across Denmark, Portugal, Brazil, Nigeria, India, Russia and China.