Fuel Fix’s article “Gulf spill report steers clear of blame” highlights issues of competence but just as strongly it indicates a problem of complacency. There are parallels with NASA and the Challenger launch decision here. In the Macondo incident, the operator, contractors and regulators all participated in behaviour that failed to recognise the accumulation of ... Read more.
Tag: macondo well
There is growing concern in the industry about how to respond to the Safety and Environmental Management System (SEMS) deadline of 15th November 2011, set by the Bureau of Ocean Energy Management, Regulation and Enforcement (BOEMRE). Big operators may find it easier than they expect The mega-operators will have a lot of work to do, ... Read more.
The benefits of companies adopting an effective risk management system have been discussed in our previous blog but how can we best describe the actual process involved? There are many ways to explain risk management, but one of the most easy to follow models is presented in the Australian standard 436:2004: OTC: Modeling Risk Management ... Read more.
Very few organizations possess the necessary knowledge, skills and tools to navigate the risk management process effectively. Valuable company resources are often stretched to the limit as businesses grapple with the various complex elements of business risk on their own. Inexperienced assessment of risks can have dire consequences for companies and the industry as a ... Read more.
Risk comes in many varieties; economic, safety & health, technical and environmental, to name but a few. In particular, the oil and gas industry is an inherently risky one, as has been devastatingly illustrated by the Macondo well (Deepwater Horizon) incident. Alfred Holt, in his report to an engineering society in 1877 ascribed to the ... Read more.