Quantitative risk analysis in the design of offshore installations

Abstract This paper briefly reviews trends in accident statistics from the North Sea Operations. Risk acceptance viewed from both the Governmental Authority and Operating Companies' standpoint is discussed. The Norwegian Petroleum Directorate has recently issued Guidelines for Conceptual Safety Evaluations. These are important because they require a risk analysis and evaluation process to be carried out in offshore development projects. The principles of the Guidelines as well as the implications for the total risk analysis process are discussed in this paper.