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Exponent's Offshore Drilling Risk Solutions Center

News

September 2, 2010


The Offshore Drilling Risk Solutions Center (Center) is a "think tank" that specializes in improving the safety and reliability (toughness) of the offshore oil and gas industry, from exploration, through production, to delivery. Exponent created the Center to assist the offshore oil and gas industry in refining its approach to regain the trust of the public, and by extension, regulators, and legislators. The goal of this new think tank is to provide independent, objective, and technically-sound solutions to significantly improve the toughness of the offshore industry as a whole.

The Center is based upon the following fundamental concept: Many companies operating globally in offshore basins have experienced a variety of incidents and/or failures over the course of many years, some of which had the potential to result in catastrophic oil spills, even if such spills did not occur. Not all companies have experienced the same types of incidents and/or failures. Although many companies have conducted their own internal risk assessments, or hired outside consultants to perform external risk assessments on their own limited set of available data, there has not been a comprehensive external review based on industry-wide records of offshore incidents and/or failures. Exponent recognizes the need for such a comprehensive approach and is offering the member companies an opportunity to pool their collective data (in a protected format) and share in the cost of analyzing that data. In the course of performing such an analysis, the Center will define a system reliability model calibrated with the available past performance data.

For more information, click here or contact John Stafford, Director of the Offshore Drilling Solutions Center, or Dr. Piotr Moncarz, Corporate Vice President