A Review on Risk Factors in the Project of Oil and Gas Industry

Abstract

Abstract In Each activity in the oil and gas industry there are risks that could hamper the project and also there is a huge risk to the environment, social and economic. Besides oil and gas industry projects also have the potential to be dangerous to life, property and the environment, the hazard can occur if the activity is not controlled and regulated by appropriate. Basically, the disaster is certainly not possible to be planned and can occur at any time. But the circumstances of a disaster can be anticipated, that is the way to plan preventive measures and control.Based on the description above, this paper aims to discuss risk factors and risk assessment techniques that can help sustainable development programs. From the results of this study note that the risk factors of projects in the oil and gas industry is very complex, so a risk analysis must be done from various aspects, namely the project itself, the environment and disaster and should be integrated with aspects of sustainable development. As for the suggested technique is a combination of monte carlo and system dynamics. KeywordsSustainable Development, Risk Assessment Techniques, Combination Monte Carlo and System DynamicsAbstrak Dalam setiap kegiatan di industri minyak dan gas ada risiko yang dapat menghambat proyek dan juga ada risiko besar terhadap lingkungan, sosial dan ekonomi. Selain proyek industri migas juga berpotensi membahayakan kehidupan, properti dan lingkungan, bahaya bisa terjadi jika aktivitasnya tidak terkontrol dan diatur dengan tepat. Pada dasarnya, bencana ini tentu tidak mungkin direncanakan dan bisa terjadi kapan saja. Namun keadaan bencana dapat diantisipasi, itulah cara untuk merencanakan tindakan pencegahan dan pengendalian. Berdasarkan uraian di atas, makalah ini bertujuan untuk membahas faktor risiko dan teknik penilaian risiko yang dapat membantu program pembangunan berkelanjutan. Dari hasil penelitian ini diketahui bahwa faktor risiko proyek di industri minyak dan gas bumi sangat kompleks sehingga analisis risiko harus dilakukan dari berbagai aspek, yaitu proyek itu sendiri, lingkungan dan bencana dan harus diintegrasikan.

A framework for interactive risk assessment in projects: case study of oil and gas megaprojects in presence of sanctions

“…Examining the research background in the field of risk management of oil and gas projects reveals that few studies have been conducted so far in the field of risk assessment compared to construction projects (Rodhi et al, 2017). On the other hand, these studies have assumed normal conditions and there is no research on the risks caused by the sanctions on oil and gas projects; also, in studies conducted to assess and evaluate risks, the relationships between the risks and their influence on each other are not considered at leveling and prioritization although it is a Interactive risk assessment in projects very important issue (Fang et al, 2017).…”

“…A review of the research works on the risk management of oil and gas projects demonstrates that few studies have been conducted so far in the field of risk assessment of oil and gas projects (Rodhi et al , 2017). The important issue of the relationship between risks has not been considered in previous studies (Fang et al , 2017).…”

A review on prospective risks and mitigation for oil and gas projects: implication for Indian CGD companies

“…There is a need to adopt or apply more extensive theories, models and risk management frameworks because of the complex nature of the oil and gas business and complicated risk factors (Suda et al, 2015). Oil and gas projects are large and complex, use state-of-the-art technology, involve multiple stakeholders and require analysis from various aspects, including sustainable development (Rodhi et al, 2017;Dey, 2012). Oil and gas projects are exposed to multiple external risk factors such as economic, political and government stability.…”

A Framework for Project Risk Assessment in Dynamic Networks: A Case Study of Oil and Gas Megaproject Construction

“…By examining the related literature on the risk management of oil and gas projects, we found that a few studies have been conducted in the field of risk assessment of oil and gas projects [6]; however, the conducted studies have not taken the interactions between the risks and possible scenarios in the project environment into account [7]. Thus, due to the special importance of achieving project goals in oil and gas industry and the domino effects of the occurrence of risks, we first identify the goals and risks of the project of gas condensate storage tank construction (G.C.S.T.C) as one of the significant projects in oil and gas industry and then develop a model in a dynamic framework so as to fully investigate the reasons for risk occurrences and simulate the risk of reaching the project goals over the project life cycle.…”