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Managing a large fleet of offshore structures is a dynamic process that aims at minimising risks to personnel, environment, and businesses, as well as minimising the associated Operations Expenditure. Through the collaborative efforts of ADNOC Offshore and Kent, formerly Atkins Oil & Gas, (Atkins, 2020), revised structural evaluation and integrity approaches have yielded significant cost savings. The considerable savings were associated with the elimination of the requirement for installing many new offshore structures and through reducing the subsea inspection associated efforts. The approach for evaluating the offshore assets’ structural performance was developed based on adopting target probability of failure figures subject to each asset's consequence of failure. Accordingly, structural reliability analyses were conducted specific to each structure, where the analysis considered structure specific environmental hazard curves and failure surfaces. Through mapping the evaluated structural probability of failure and ADNOC's corporate risk matrix's HSE Likelihood, each structure was precisely placed on the risk matrix. Furthermore, the inspection intervals and Topsides, Splash Zone, Subsea Levels I, II and III were mapped to each risk evaluation on the risk matrix. The optimisation approach of adopting a structure specific reliability analysis and mapping with ADNOC's corporate risk matrix yielded considerable cost benefits while providing a more accurate representation of each asset's risk. As a result of the implementation of the developed process, approximately 41% of the assets got lower risk evaluation compared to the legacy approach and presented extra structural capacities that can be utilised for future expansions and eliminating the requirement for installation of new assets. As the process expanded to include asset inspections, the subsea inspection requirements reduced by approximately 43% reflecting a considerable decrease in operating costs. A major contribution of the risk improvement is attributed to the consideration of the storm prevailing approach directions, the joint probability of wave and current magnitudes and directions, as well as the relative alignment of each structure. The developed approaches provide a framework that allows continuous update of the risk assessment and enables executives and management to make risk-based-decision supported by a consistent measure of structural risk. This has been translated into the generation of the Structural Passports (Summary reports) clearly demonstrating the assets current risk and recommendations for mitigation measures, if deemed required.