Abstract
Quantified Risk Assessment studies are carried out with the objective of reducing the risk to personnel, assets and environment to As Low As Reasonably Practicable (ALARP). With the increasing use of this principle in oil and gas safety studies to reduce the tolerable risks to ALARP level, Risk Based Decision Making (RBDM) has witnessed improved energy efficiency as a bi-product. This paper proposes a method to set energy efficiency as an objective of such analyses, rather than just a bi-product, in Capex and Opex projects. The ALARP decision is based on a Cost-Benefit analysis methodology, and the related benefits include not only the obvious risk reduction potential and improvement in reliability and availability, but also improvements in energy efficiency. Thus, setting energy efficiency as a goal and combining it with the ALARP method will be beneficial for the operating companies.
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© 2011 Springer-Verlag Berlin Heidelberg
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Das, B., Atkinson, R. (2011). How Risk Based Decision Making improves Energy Efficiency in Oil and Gas Industry. In: Schmidt, M., Onyango, V., Palekhov, D. (eds) Implementing Environmental and Resource Management. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-77568-3_15
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DOI: https://doi.org/10.1007/978-3-540-77568-3_15
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