Risk Analysis Of International Offshore Oil Project

In human history almost every war is started because of scrambling for resources,among which the marine resources is of great importance for every country in the world. Therefore, since the last century the countries have invested numerous money and energy to develop the marine sources, especially for the exploration and exploitation of offshore oil and gas. But it is determined by many factors and there are too much risk.The production of offshore oil is approximately divided into three phases, which is exploration, exploitation and production. Different risk is involved in different phases.Currently as the competition is increasingly drastic, the contractors have to improve capacity of risk management as to gain a place at international offshore oil engineering market.The paper mainly researches how to identify, evaluate and control risks when the contractor undertakes international offshore oil engineering.Firstly, it introduces the characteristics of international offshore oil engineering project, as well as common risks: society risk, economical risk, political risk, engineering technology risk and etc. It also introduces the risks which are most likely to occur when the contractor undertakes international offshore oil engineering project.Secondly, there are many methods to identify risk, however, for international offshore contractor the most commonly used methods are head storm and Delphi. After identifying the risks, the contractors should take effective methods to perform risk evaluation and risk control. Methods of risk evaluation are investigation, expert gradation, the Analytical Hierarchy Process, Fault Tree Analysis and etc., as the first two methods are applicable to risk evaluation in bid phase.Thirdly, risks exist everywhere while they also exist in international offshore oil engineering to different degree. The contractor should take effective measures to keep risks away and reduce or transfer risk so that he can achieve expectation income.Finally, combined with international offshore oil engineering project examples, the paper validates how to identify the risks with Head Storm method and how to evaluate and control the risks with investigation, expert gradation and Analytical Hierarchy Process methods.