Skip to main content.

Oil and gas

Our risk management activities in the oil and gas sector have covered a very broad range, including enterprise risk management framework development and implementation, simple qualitative risk assessments, project risk management framework development and implementation, procurement strategies and reviews, quantitative risk analyses, tender evaluations, policy analyses, technical studies and risk management training.

Some of our clients and activities in the sector are noted below.

Abu Dhabi Company for Onshore Oil (ADCO)

We developed an ERM process for ADCO, and we applied it across business units and functions to assist in constructing a corporate risk register; we conducted risk assessments to provide an input to the internal audit and assurance plan.

Abu Dhabi Gas Liquefaction Company (ADGAS)

We developed an ERM framework and standards, and we began implementing it with the management team.

We developed a project risk management framework, and we work regularly with Projects Division to apply it to major projects (including the Integrated Gas Development Project).

We assisted in the Quarterly Performance Review that targeted corporate risk.

We provided introductory training for the proposed risk management champions.

We worked with the Projects Division to develop specific wording relating to risk management for inclusion in request for tender documents, and evaluated the relevant sections of the associated tender responses.

We assisted the company develop a risk appetite statement and identify key risk indicators.

Alcoa World Alumina Australasia

We conducted quantitative reviews of energy supply risks, including risk analyses of major failures in the gas supply delivery system.

Australia Pacific LNG

We reviewed the risk management process; we conducted a strategic risk assessment workshop.

BHP Billiton Petroleum

We undertook qualitative risk assessments for development projects in Algeria and Pakistan, including pipeline and gas-to-liquids proposals; we conducted lessons-learned workshops for the post-completion review of a large North African development project; we undertook quantitative cost and schedule risk analyses for a floating production, storage and offloading facility; we provided detailed training for the risk management specialists in the Petroleum CSG in Melbourne and Houston.

Caltex Refineries

We undertook a variety of qualitative and quantitative risk analysis activities, primarily associated with upgrades of the Lytton and Kurnell refineries during tight shut-down windows; we conducted failure modes and effects analysis for an expansion project; we provided risk management training; we provided expert witness advice on the risk aspects of a proposed new housing development near a refinery boundary.

ChevronTexaco

We provided advice on quarantine risk management for the Gorgon LNG development on Barrow Island, Western Australia.

Excelledia

We prepared and delivered enterprise risk management training to a group of clients in Qatar, primarily from the oil, gas and petrochemical sectors.

Gulf Canada Resources

We developed risk analysis methods for assessing construction and operating costs of multi-structure offshore oil platforms.

Kina Petroleum

We developed an ERM framework for the company and conducted a baseline risk assessment.

AJ Lucas

We provided risk management input to a tender for an offshore gas pipeline.

Lukoil

We conducted a project risk review and bow tie analyses for the West Qurna 2 development in Iraq.

Northwest Alaskan Pipeline Company

We undertook a quantitative risk analysis of strategic options for crossing the Yukon River with a large natural gas pipeline.

North-West Shelf Australia LNG

We prepared and conducted a qualitative, scenario-based workshop to examine the threats and opportunities associated with conditions precedent in a long-term commercial LNG contract.

Oil Energy Corporation

We conducted a hazard and operability study for an oil recovery unit.

Origin Energy

We participated in a risk workshop associated with a large gas development project in New Zealand, for insurance purposes; we conducted risk assessments and lessons learned workshops in the coal seam gas business; we developed the framework for risk management for the upstream gas business.

Petro-Canada

We conducted a quantitative risk engineering and reliability analysis of a proposed Arctic LNG pipeline, processing and storage facility.

Queensland Gas Company Limited

We conducted operability and value improvement workshops for the gas field components of a coal seam gas project; we conducted a strategic programme-level risk assessment of the upstream and pipelines projects.

Santos Limited

We prepared and facilitated a ‘look-back’ workshop for strategy development associated with the investment opportunity portfolio; we assisted in the development of the company’s enterprise risk management framework; we carried out a quantitative risk assessment of the Cooper Basin Infrastructure Expansion Project (Upstream) cost and schedule as the company was establishing budgets and contingency allowances with its EPCM contractors.

Sasol

We conducted a review of the current approach to managing risk and the proposed strategy and structure for the risk management function in the company.

Saudi Aramco

We provided tailored quantitative risk management training to selected managers and analysts in the company, with a focus on the refinery business.

Shell

We undertook a quantitative cost and schedule risk analysis for the Shell Clyde Terminal Conversion Project in New South Wales.

Undisclosed Construction Consortium

We assisted a consortium of engineering contractors with qualitative and quantitative risk assessments as it determined its bid response for a multi-billion dollar LNG development project. (Details of the consortium and the project are confidential.)

Woodside Petroleum Ltd

We prepared and conducted a training workshop on value of information and associated software; we developed a protocol for the assessment of risk management maturity that is applied as part of the governance processes across the company.

Zakum Development Company (ZADCO)

We developed and implemented the Zadco Business Risk Management System, and a related framework for project risk management; we applied the framework throughout the Zadco business and to several large projects; we provided training as necessary to selected business units.

We continue to work with the company on specific project risk assessments and the identification of treatment options.