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Probabilistic Risk Assessment: Applications for the Oil ...

Probabilistic Risk assessment : Applications for the Oil & Gas IndustryJoint Study by NASA and BSEE23 IntroductionProbabilistic Risk assessment (PRA) is a tool that has gained increasing popularity across several industries from nuclear power to human spaceflight to systematically and comprehensively evaluate risks associated with complex engineered Bureau of Safety and Environmental Enforcement (BSEE), in partnership with the National Aeronautics and Space Administration (NASA), is exploring the ability of PRA to assist in the evaluation and communication of risk in the offshore oil & gas the boundaries of exploration, development, and production facing challenges from harsher environments and new technologies, understanding the risks involved becomes more important than ever to ensure continued high levels of safety and environmental protection.

Probabilistic Risk Assessment is a quantitative method aimed at identifying and assessing risks : in complex technological systems for the purpose of cost-effectively improving their safety and performance. PRA attempts to consider all events associated with the consequences of …

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