Imperial College London
Alternate

Dr Craig Smalley

Faculty of Engineering, Department of Earth Science & Engineering

Visiting Professor
 
 
 
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Contact

 

c.smalley

 
 
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Location

 

Royal School of MinesSouth Kensington Campus

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Summary

 

Publications

Citation

BibTex format

@article{Smalley:2017:10.1306/11301616084,
author = {Smalley, C and Chebotar, K},
doi = {10.1306/11301616084},
journal = {AAPG Bulletin},
pages = {1473--1486},
title = {Event-based risk management for subsurface risks: An approach to protect value generation from oil and gas fields},
url = {http://dx.doi.org/10.1306/11301616084},
volume = {101},
year = {2017}
}
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RIS format (EndNote, RefMan)

TY  - JOUR
AB  - Event-based risk management (EBRM) is an improved way of describing subsurface uncertainties and their possible business impacts in a manner that facilitates specific actions to improve business performance.  In EBRM, uncertainties are viewed as potential causes of risk events that could in turn lead to consequences that affect the attainment of objectives.This “causes-event-consequences” syntax aids the design of prevention measures to inhibit the causes turning into the event, mitigation measures to reduce the potential consequences should the risk event occur, and also facilitates construction of a risk taxonomy scheme based on risk consequences, events and causes.   Using a dataset of 1456 subsurface risks, each risk was described in this manner, placed in the taxonomy and the proportion of risks in each taxonomic group analysed.   This revealed clear trends in the relative frequency of risk groups with type of field: for example, risks related to hydrocarbon in-place volumes are more frequently identified in deep-water oilfields and gas fields feeding liquefied natural gas plants, situations in which resource volumes are critical to support the large project capital costs.  Trends were also evident withfield maturity: for example, risks related to hydrocarbon in-place volumes are more frequently identified before the field sanction decision than afterwards.
AU  - Smalley,C
AU  - Chebotar,K
DO  - 10.1306/11301616084
EP  - 1486
PY  - 2017///
SN  - 0149-1423
SP  - 1473
TI  - Event-based risk management for subsurface risks: An approach to protect value generation from oil and gas fields
T2  - AAPG Bulletin
UR  - http://dx.doi.org/10.1306/11301616084
UR  - http://hdl.handle.net/10044/1/44158
VL  - 101
ER  -
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