DNV saves cost by managing risk

Risk is a reality to every type of business, but it is particularly important for the offshore oil and gas industry.

Risk is a reality to every type of business, but it is particularly important for the offshore oil and gas industry.

"One significant accident can dramatically influence how business is done in a region," Craig Colby DNV's regional manager for North America and Africa, told participants at Det Norske Veritas' technology week program on Feb 3.

DNV management explained how the company helps the industry meet new technology challenges, handle the lower tolerance for risk, and manage the new financial drivers.

One of the company's primary objectives is to set new standards for new situations. Deepwater is one of the "new" environments in which DNV is working. According to Dr. Arne Loken, DNV's section manager for deepwater, "Progression toward deepwater is moving very rapidly." As water depth increases, more technology risk factors arise, he said. These challenges include loop currents, vortex induced vibration and its impact on riser fatigue, hydrodynamic interaction between two floating structures, and mooring issues.

DNV's specialized analyses of deepwater production systems is allowing the company to set realistic, achievable standards to control risk in deepwater areas around the world, Loken said.

The company is also looking ahead to the certification of offshore LNG facilities in the Gulf of Mexico, he said.

02/03/04

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