Quantified Risk Analysis of DP Operations - Principles and Challenges

Risk of position loss is intrinsic to all DP vessels. A position loss may happen on DP1 vessels, as well as on DP2 and DP3 vessels. The consequence is vessel and operation specific, and can be catastrophic to personnel, environment and asset. Quantification of the risk originated from DP vessel position loss is viewed necessary for the offshore oil and gas industry and is a good way to focus the attention in DP risk management. The paper...