Risk Assessment and Risk Management for Oil and Gas Projects: A Complete Guide
Course Overview
The **Risk Assessment and Risk Management for Oil and Gas Projects** program provides an in-depth understanding of how to identify, analyze, and mitigate risks in one of the world’s most complex and high-stakes industries.
This course equips participants with essential tools and frameworks for **systematic risk identification**, **quantitative and qualitative analysis**, and **strategic response planning** across the entire oil and gas value chain — from exploration and drilling to production, transportation, and decommissioning.
Participants will explore **industry-specific challenges** such as health, safety, and environmental (HSE) risks, operational hazards, financial exposures, supply chain disruptions, and geopolitical uncertainties.
Course Duration
**5 Days (35 Learning Hours)**
Available in: **Dubai | London | Kuala Lumpur | Houston | Doha | Riyadh**
Delivery Mode: **In-Person / Virtual / In-Company**
Target Audience
This course is ideal for professionals in:
* Oil & Gas Project Management
* Health, Safety, and Environment (HSE)
* Risk, Audit, and Compliance Functions
* Operations and Maintenance
* Engineering and Technical Services
* Procurement and Contract Management
* Finance, Investment, and Business Continuity
Course Objectives
By the end of this course, participants will be able to:
1. Identify the key risk categories unique to oil and gas projects.
2. Conduct comprehensive risk assessments using global best practices (ISO 31000, API, and IEC 61508).
3. Apply qualitative and quantitative tools such as risk matrices, Monte Carlo simulation, and fault tree analysis.
4. Develop and implement effective risk mitigation and control plans.
5. Integrate risk management into project design, execution, and decision-making.
6. Communicate risk insights effectively to stakeholders and senior management.
Learning Outcomes
Participants will gain the ability to:
* Build and maintain risk registers for oil and gas projects.
* Evaluate likelihood, impact, and exposure across technical and commercial domains.
* Quantify risks and prioritize mitigation actions.
* Link risk management with project cost, schedule, and safety performance.
* Develop contingency plans and resilience strategies for major projects.
Day 1 – Understanding the Risk Landscape in Oil & Gas
* Global oil and gas industry overview and project lifecycle
* Types of risks: technical, operational, financial, environmental, and political
* Introduction to ISO 31000 and API RP 75
* Framework for enterprise risk management in the energy sector
* Workshop: Mapping project risk categories
Day 2 – Risk Identification and Classification
* Techniques: brainstorming, HAZID, checklists, and risk registers
* Identifying hazards in exploration, drilling, production, and refining
* Contractual and financial risk exposure
* Supply chain and logistics risk mapping
* Practical Session: Building a project risk inventory
Day 3 – Risk Analysis and Evaluation
* Qualitative vs. quantitative analysis
* Probability-impact matrices and scoring methods
* Quantitative tools: Monte Carlo simulation and sensitivity analysis
* Scenario building and what-if modeling
* Case Study: Risk quantification in offshore project investment
Day 4 – Risk Mitigation, Control, and Monitoring
* Developing mitigation and contingency plans
* Risk response strategies (avoidance, transfer, mitigation, acceptance)
* Role of insurance and contractual risk allocation
* Leading indicators and performance monitoring
* Practical Session: Designing a risk control plan
Day 5 – Integrating Risk Management with Project Decision-Making
* Linking risk to cost, schedule, and HSE outcomes
* Building resilience into project planning and operations
* Governance, reporting, and continuous improvement
* Developing a risk-aware culture
* Final Exercise: Group simulation on project risk response
Certification
Participants who successfully complete the program will receive:
🎓 **KE Leaders Certificate in Risk Assessment and Risk Management for Oil & Gas Projects**,
demonstrating professional competence in risk identification, analysis, and control within the energy sector.
Key Benefits
* Learn to manage risks proactively throughout the project lifecycle.
* Gain familiarity with international risk management standards (ISO 31000, API RP 75).
* Strengthen decision-making using structured risk models and simulations.
* Improve project resilience and stakeholder confidence.
* Build a risk-based approach to operational excellence and HSE performance.
Contact Info:
Enquiry at : admin@keleaders.com
Whatsapp: 0044 790 125 9494
For more details visit our website : www.keleaders.com
