Quantitative Risk Assessment for Offshore Platform Process System

Oil and gas industry is one of sectors that have high risks. It can range from minor to major events. For instance: oil leaks, gas leaks resulting to catastrophes like explosions, fires and oil spread. These disasters might cause fatality, injury, pollution, economic loss and even disruption of business. How can these accidents be prevented? How can the level of risk be assessed? And how can these things be handled or managed?

Mr. Nguyen Van Thanh made a case study on “Quantitative Risk Assessment for the Process System on an Offshore Platform: A Case Study Of QRA For Process System Of Platfrom RP-3 Of J.V. Vietsovpetro”. This project is a partial requirement for his Professional Masters degree in Construction Engineering and Infrastructure Management.

He concluded that:
(1) to evaluate and calculate the level of risk of a project, a factory or an offshore platform, the general formula that can be used is: R = F x C (where : R = Risk ; F = Frequency and C = Consequence). Based on the formula of risk, reduction of the consequence and reduction of the frequency are the two ways to reduce the risk.

(2) to reduce the consequence or frequency of risk, mitigation measures will be proposed if the risk value is higher compared with the risk criteria. The process system should be divided into the segments based on the properties, functions and working place.

(3) to assess the risk, the process system of platform RP-3 (Vietsovpetro Joint Venture) was divided into 8 segments based on their function, working condition and location. Comparing to the risk acceptance, the calculated risk in the process system of platform RP-3 is lower. Therefore, the risks are acceptable.

Mr. Nguyen Van Thanh’s abstract is copied and posted.


ABSTRACT

Quantitative Risk Assessment is a mean of objectively measuring the risks from hazardous activities of a facility or operation. The risks are qualified in terms of their probability and consequences. By comparison with a suitable risk criterion, the results can be used to help decide whether the facility is unacceptable or whether the improvements are necessary
This thesis attempts to explore the existing approaches of Quantitative Risk Assessment and apply this technique to offshore oil and gas industry, a very high risk sector, by proposing a frame work to conduct quantitative risk assessment for process system of offshore platforms.
Based on the given frame work, a case study will be performed to understand the effectiveness of “Quantitative risk assessment for process system of PR-3 offshore platform in Dragon oil field of Vietsovpetro J.V”