Project Risk Management
Drilling and Completion Risk Assessments
- Client
- Eni
- Country
- Italy
- Year
- 2006-2017
- Industry
- Oil & Gas
- Service
- Risk Management
Eni's drilling and completion projects range from simple onshore workovers to deep offshore exploration, so a standard risk process does not fit them all. kwantis carried out more than 50 risk assessments, choosing the most suitable technique for each project.
- Quantitative risk assessments
- 50+
- Continents
- 4
The challenge
Risk management (RM) is a well recognised approach to address a project’s future uncertainties, provide accurate CAPEX estimates and respond proactively to unplanned events. Yet it is often presented as a standard, repetitive process that ignores the different challenges of each project. The result is over-complex risk studies for simple matters or, on the contrary, scarce results for intricate issues.
Drilling and completion projects cover a wide range of situations, from a standard onshore workover to a very challenging deep offshore exploration campaign. Their challenges can be:
- Technical: HP/HT conditions, application of new technologies
- Environmental: sensitive areas, deep offshore conditions
- Economic: market conditions
- Strategic: partnerships
Each project therefore needs its own response in terms of risk management.
Our approach
For each project, kwantis chose the most suitable technique available, to maximize the added value for the project team. Techniques included:
- Risk registers
- Risk mapping
- Probabilistic CAPEX and schedule estimates
- Fault trees
- Cost versus benefit analyses
The outcome
kwantis performed more than 50 quantitative risk assessments for drilling and completion projects on 4 continents, in most of the countries where Eni operates. Each assessment used the technique that matched the project’s challenges.
