Page 60: of Marine News Magazine (May 2014)

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in-service rigs to see how the tools and methodologies used in the naval industry could benefi t the offshore industry.”

The Price of Failure

The price of failure in the offshore world is quite high.

The South Korean government, for example, knows this well. Alion’s Cowardin told MarineNews in May, “Today, the South Korean Navy does not build a (combat or auxil- iary) ship that does not involve Alion basic and detail de- sign input.” But, Alion also challenges the oil and gas sec- tor, asking: “What’s the price of your license to operate?”

That’s because, while using MOTISS-IBA analysis tools might not be the least expensive line item in your CAPEX budget, its utility in the long run might be the smartest op- tion for those looking to mitigate risk, eliminate unneces- sary vulnerabilities and yes – demonstrate to the regulatory community that your rig is as safe as it can possibly be. The alternative, as shown in Table 1, can be even more costly.

Decision Support/Risk Analysis

A catastrophic incident, such as an explosion, on an offshore oil asset can have serious consequences -- from oil rig or platform damage to system failures that could interfere with initiating system recoverability or shut- ting down critical systems. Having greater capabilities to predict such incidents, before they happen, can help im-

OFFSHORE SAFETY

Event Piper Alpha Ocean Ranger Enchova Central P36

Year 1988 1982 1984 & 1988 2001

Casualties (lives) 167 84 42 11

Losses ($) 3.4 billion 120 million 461 million 515 million

Table 1 – The Price of Failure Offshore

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