Business Risk Management Applied to Offshore Pipeline Field Development

A world class project must have a disciplined business risk management. As a good project manager, he should manage project risk successfully. Through business risk management, he can identify risk of the project, find the cause of all business risks, then define the influence of all risks. He can take measures to avoid, transfer, and mitigate the risk. A field development includes production facilities, risers and pipelines and subsea wells, in which the pipelines and risers connect the subsea wells and production facilities to transfer oil and gas. The cost of offshore pipelines and risers is major. In the following we shall take offshore pipeline and riser as a case study to practice the principal of business risk management step by step. It has been demonstrated that the method may be applied to maximize the returning for the stakeholders in an offshore field development. However, it is suggested to accumulate and update the data bases required for an accurate statistical evaluation.