Challenges of Deep water Blowout Drilling Risk Assessment in East Mediterranean Sea

EU Offshore Directive and the implementation of Risk Assessment method

“Challenges of Deep water Blowout Drilling Risk Assessment in East Mediterranean Sea’’

Abstract
This research is the first study that attempts to investigate the complexities of Quantitative Risk Assessment (QRA) in major hazard reports and recommends actions based on the results of the study in respect of the new EU regulations that will be enforced in July 2015. The main purpose is the identification of inconsistencies in Environmental Impact Assessments methodologies and the proposal of a method for a transparent and efficient development of the studies that could assist the authorities with limited background in the Oil & Gas sector. Focusing on the deep water blowout drilling risk assessment the study tries to identify the blowout probability, and how this is presented in four Environmental Impact Assessments and two Safety Cases (from the last five years) which analyse the presentation of reservoir conditions, the water depth, the fluid type, the blowout frequency, the penetration depth, the potential release location, the flow path, and the release rate based on a BOP status. The main outcome of this study is that there is a necessity for clear and transparent explanations for the QRA, the use of data (historical or predictable) should be clearly justified and acceptable and any models used should be thoroughly described and analysed in detail. These considerations can reduce the risk, of environmental and socioeconomic impacts from the potential oil spill. Based on the results, this study recommends certain actions that should be taken which could assist the competent authority during the review process and potential service companies to provide an efficient and transparent report to the relevant authorities.