Drilling Operations: Cost and Risk Management Hardcover Prosper Aideyan

By Prosper Aideyan

Every activity or operation in well construction has its own associated risk(s). The cost of running the operation will most certainly be impacted by the level of risk that can be taken for that particular operation. Typically, the running of an operation costs less if the level of risk associated with it is high, and it is higher if the level of risk is lower. However, any safety incidents arising out of high-risk operations could potentially lead to catastrophic damage, which in-turn may raise the overall cost of running the operation immensely. Therefore it is important to identify all risks associated with any operation during well construction and to determine what level of risk is acceptable and to what extent. Risk management is the economics of finding a suitable balance between running an operation by rejecting and accepting various risks; developing barriers for acceptable risks and making a profit while running a safe operation.

• Format: Hardcover
• Language: English
• ISBN: 0990683621
• ISBN13: 9780990683629
• Release Date: January 2015
• Publisher: SigmaQuadrant
• Length: 310 Pages
• Weight: 1.45 lbs.
• Dimensions: 1.0" x 9.0" x 6.0"