Worldwide, the offshore oil and gas industry spends hundreds of millions of dollars per year on equipment and processes to manage risks the workforce, the environment and assets are exposed to. Decisions on this expenditure are driven by perceptions, often derived from risk assessments, of the various threats they are exposed to and the effectiveness of the barriers that manage them. Information on accident and failure frequencies is a key input to the risk assessment yet much of the data is out of date, incomplete or is subject to misinterpretation. This may result in the sub optimal targeting of expenditure.
This JIP aims to;
- Improve the quality and completeness of data on offshore accidents and failures together with exposure populations.
- Analyse the data in consistent manner agreed by the industry and regulators.
- Provide results to stakeholders.
Improved data will contribute to more accurate risk assessments and aid the understanding of the causes failures. Both of these contribute to decision making on safety related expenditure.
The industry invests huge amounts to prevent and mitigate accidents. Accidents can also result in huge losses. More informed targeting of expenditure can greatly reduce overall construction and operating costs.