QRA

In order to satisfy the current demand for risk analysis with regard to increasingly difficult offshore operations, IDEAS is pleased to announce the formal tie-in as of 24th September 2005 with ORA Ltd (Oilfield Risk Analysis Ltd) so that QRA is covered from a combined engineering and mathematical modelling / statistical analysis perspective – so that the likelihood of events is realistically studied and modelled.

This means that the industry is able to take a step closer to realistic modelling, based upon actual past data and foreseen events as opposed to just the use of qualitative analysis. Through the use of published HSE Offshore Accident Data, the Worldwide Offshore Accident Database and other expert databases (such as SINTEF and Scandpower), accidents and blowouts can be realistically modelled numerically such that output results can be compared with the Operators / Drilling Contractors Standards to see where events can be mitigated against.

The advantages of a specialist engineering company and a specialist QRA modelling company working together lie in both synergy and independence. From an engineering perspective IDEAS is able to ascertain all well, rig, platform and export (pipeline / FPSO) risks for input into ORA’s Risk Impact / Cost Impact software package. Upon completion of the risk analysis simulations by ORA, all outputs can be assessed with reference to engineering and design / operational nomenclature and parameters, thereby making the work realistic in terms of engineering and operations.

The independence offered to clients means un-biased views are taken and findings are communicated in a clear, unambiguous manner so that all personnel involved understand all potential implications of a certain design being accepted or a certain operational practice being carried out.

 

A very responsive service is offered in the following areas:-

  • Cost Risk Analysis and Sensitivity Analysis Modelling
  • Impact Analysis for the examination of Safety
  • Risk Management Consultancy
  • Risk Analysis Training

Benefits

  • Increased Safety
  • Cost Control & reduction
  • Reduced Insurer’s Risk
  • Realistic Estimation of Project Timescales
  • Elimination of subjectivity and ambiguity
  • Objectivity
  • Identification of critical factors that affect project safety, enabling potential risks to be mitigated
  • Understanding of operational uncertainties thus leading to informed and valid management decisions
  • Provision of a clear record to demonstrate that issues have been addressed correctly


Joint Agreement Signing, 24th September 2005
Mr Mark Pawlewski (r) of Oilfield Risk Analysis Ltd and Mr Michael Gibson (l) of IDEAS Ltd.

For specific information regarding QRA Methodologies and Client Listing, please visit www.oilfield-risk.com. Thank You.