DEEPWATER RISKS-1: Challenges, risks can be managed in deepwater oil and gas projects

Deepwater projects typically face technical and financial challenges to their viability. Such challenges are now increasingly significant for operators, consultants, and contractors as exploration moves into ever deeper water.It is essential that these challenges are assessed, mitigated, and managed throughout project execution by selecting appropriate field development plans, risk management, and modifying project implementation methods. A clear understanding of risks throughout project execution is a key component of deepwater development.The aims of this two-part article are to provide an insight into the various risks involved in deepwater field development as well as to help engineer...

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