Offshore staff
HOUSTON -- Håvard Brandt, senior consultant with DNV Energy, told participants at the Deep Offshore Technology conference on Wednesday, Nov. 29, that completion system selection requires risk evaluation. "It is important to have a good risk management plan in place," Brandt said.
It is critical to take into account the expense of risk as well as the usual opex and capex costs, Brandt said. "Riskex," the result of quantifying risk and uncertainty and their attendant costs, allows the operator to reach a better business decision, he said.
DNV specializes in riskex simulation tools that quantify and account for the impact of risk on the profitability of a product, Brandt said. He presented a number of case studies to illustrate the need for risk assessment, pointing out the value of identifying the function of equipment and the likelihood of failure, evaluating the consequences of failure and managing a high level of risk.
"Complex completion systems offer a number of interesting opportunities for the industry," Brandt said, but their value can be compromised if the critical stage of risk assessment is overlooked.
11/29/2006
