This book presents a comprehensive introduction to offshore risk management in its life cycle, concentrating on the principles, the main methods, and applications in the petroleum sector. The emphasis is very much on the major accident risk of social-technical systems.

This book contains ten lessons addressing the most important topics of risk principles, methods and applications in the petroleum sector. The first lesson provides readers with the required knowledge on how to understand risks. In the second lesson, the professionals will have a further understanding of what a risk management is and the different steps that make out the process. This is followed by the third lesson, which demonstrates the importance of learning from past experiences and provides the methods for accident investigations. The fourth lesson covers the main techniques for different phases of risk analysis. Lessons 5–6 discuss the philosophy of risk-based design as well as emergency response. In lessons 7–8, the authors focus on the important topics of barriers and indicators for major accident risk. Decision framework for risk management is elaborated in the ninth lesson. In the final lesson, authors discuss the most important topic of ethics in risk assessment.

Readers of this book gain a new insight into risks.