Risk assessment in small oil and gas companies: A field survey (T-0656) (MFN 6893)

Abstract

This research mainly focuses on evaluating the condition of risk assessment in small oil and gas companies of Pakistan. Mostly in oil and gas companies, workplaces are challenging and have a high degree of uncertainty. Previously we find that risk assessment activities are conducted in large scale companies. Our investigation focused on small oil and gas companies of Pakistan. The Quantitative risk assessment method was used. A Field Survey of small oil and gas companies was conducted using risk assessment questionnaire. Sample Size was determined from power and precision software. Data was collected through questionnaire. A risk assessment questionnaire was sent to different technical professionals that were working for small oil and gas companies. The respondents were mostly geologists, geophysicists, and engineers. Data received was analyzed in SPSS (Statistical Package for Social Science) and SEM (Structural Equation Modeling). Statistical analyses showed that risk identification and risk assessment have a strong relationship with documents of risk assessment. Safety management has a curvilinear relationship with risk identification and risk assessment. Identification of hazards and background information for planning has a weak relationship with risk identification and risk assessment.