Risk Monitors Applied to Offshore Installations

In recent decades, regulation of the offshore sector has migrated from a prescriptive normative base to a risk-based one. This paradigm shift brought to operators the need to adapt the risk management of their current plants and operations, and to deepen their analysis and risk assessments for new ventures (in compliance with regulatory requirements). Experiences in risk analysis, assessment and management and their advantages in other industries can be useful to accelerate and deepen the improvement of this topic in the offshore industry. As an example of what can be used (from the experience of other industries), one can mention the application of Risk Monitors (RMs) in the nuclear industry. A risk monitor can be based on a Top Logic Model (TLM), obtained from the event trees and fault trees that make up probabilistic models of the plant (e.g., focused on systems that are considered important for safety or that may have significant impact on operating costs). In this sense, this paper presents a discussion on how RMs are applied in the nuclear industry, and how they can be adapted and explored to improve risk management in offshore installations, including remotely controlled or automated installations, and provides a simple example of obtaining a model to calculate the point risk curve (a possible variable monitored by means of a RM).