Lesson 16 Risk Management and Problems

Lesson 16 Risk Management and Problems - Harold Vance...

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Unformatted text preview: Harold Vance Department of Petroleum Engineering PETE 689 - UBD Lesson 16 Risk Management and Downhole Problems Harold Vance Department of Petroleum Engineering Risk Management and Downhole Problems Risk Management Risk Identification Quantitative Risk Analysis Risk Mitigation Planning Harold Vance Department of Petroleum Engineering Downhole Problems and Troubleshooting Wellbore Instability Excessive Vibration Fluid Influxes Stuck Pipe and Fishing Corrosion Risk Management and Downhole Problems Harold Vance Department of Petroleum Engineering Risk Management A major success factor in UBD is how effectively the designers and implementers identify risks and develop an effective plan to deal with the risks. Introduction Harold Vance Department of Petroleum Engineering Risk Management Before implementing the final design, the selected equipment and operating procedures should be subjected to an exacting risk analysis. Introduction Harold Vance Department of Petroleum Engineering Risk Identification Quantitative Risk Analysis Risk Mitigation Planning Risk Response Risk Management Stages Harold Vance Department of Petroleum Engineering Risk Identification Quantitative Risk Analysis Risk Mitigation Planning Risk Management Harold Vance Department of Petroleum Engineering Source of Risk. Probability of Occurrence. Potential Impact. Action to Mitigate. Cost to Mitigate. Probability Mitigation Succeeds. Risk Identification Harold Vance Department of Petroleum Engineering Source of Risk Internal: risks that the designer can control. External: risks that the designer cannot control. Harold Vance Department of Petroleum Engineering Probability of Occurrence Can be on a scale of: 1 to 10 or High, Medium, and Low Harold Vance Department of Petroleum Engineering Potential Impact High, Medium, or Low. May be referred to as “Consequence” Can be defined by dollar amounts or other criteria, such as severity of injuries or death, or any combination of dollar amount and injury. Probability * Consequence = Risk Harold Vance Department of Petroleum Engineering Action to Mitigate Next, the decision whether to live with the risk or if risk mitigation is in order. Mitigation involves reducing the probability of occurrence or the potential impact of a given risk. Harold Vance Department of Petroleum Engineering Risks can be mitigated by: Choose substitute equipment types....
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This note was uploaded on 10/30/2011 for the course PETROLEUM 689 taught by Professor Jeromej.schubert during the Fall '11 term at Texas A&M University-Galveston.

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Lesson 16 Risk Management and Problems - Harold Vance...

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