BOW-TIE ANALYSIS

RISK MANAGEMENT AND VALUE CREATION

Daud’ Shittu
Subsea Pipeline and Flowline

SNEPCo
OUTLINE

 DEFINITIONS
 OIL AND GAS INDUSTRIES
 RISK MANAGEMENT
 HAZARD AND EFFECT MANAGEMENT PROCESS (HEMP)
 BOW-TIE ANALYSIS
 VALUE CREATION
 CONCLUSION

SNEPCo Bow-Tie Analysis; Risk Management and Value 18 October, 2016 2

Creation
DEFINITIONS

HAZARD
Anything that has the Potential to cause Danger;
 Harm to People
 Damage to Asset
 Impact on Environment
 Impact on Reputation

SNEPCo Bow-Tie Analysis; Risk Management and Value 18 October, 2016 3

Creation
DEFINITIONS

RISK
The Combination of the Consequence of the Release of an Hazard
and the Likelihood of its Occurrence.

Low Risk High Risk High Risk High Risk

• Low • High • Low • High
Probability Probability Probability Probability
• Low • Low • High • High
Consequence Consequence Consequence Consequence

SNEPCo Bow-Tie Analysis; Risk Management and Value 18 October, 2016 4

Creation
OIL AND GAS INDUSTRIES

 World Energy Requirement on

the Increase.
 Oil and Gas remains Highest
World’s Energy Consumption.
 Oil and Gas Industries are
involved in many activities to
meet World’s Energy
Requirement
 The activities involved are
Highly Hazardous
 Manage Associated Risks
appropriately

SNEPCo Bow-Tie Analysis; Risk Management and Value 18 October, 2016 5

Creation
RISK MANAGEMENT

HAZARD AND EFFECT MANAGEMENT PROCESS (HEMP)

SNEPCo Bow-Tie Analysis; Risk Management and Value 18 October, 2016 6

Creation
HAZARD IDENTIFICATION (HAZID)

SNEPCo Bow-Tie Analysis; Risk Management and Value 18 October, 2016 7

Creation
RISK ASSESSMENT MATRIX

SNEPCo Bow-Tie Analysis; Risk Management and Value 18 October, 2016 8

Creation
RISK CONTROL

 Substitute
 Eliminate
 As Low As Reasonably Practicable (ALARP)
 Barriers; Design, Technical and Operation
 Bow-Tie Analysis

SNEPCo Bow-Tie Analysis; Risk Management and Value 18 October, 2016 9

Creation
BOW-TIE ANALYSIS

SNEPCo Bow-Tie Analysis; Risk Management and Value 18 October, 2016 10

Creation
VALUE CREATION

8 Project
Principles
ORS

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Creation
CONCLUSION

 There are HAZARDS everywhere.

 They come with associated RISKS.
 We have to effectively manage the risks.
 Bow-Tie Analysis is an Effective Risk Management Tool.
 It can also be used for VALUE CREATION.

SNEPCo Bow-Tie Analysis; Risk Management and Value 18 October, 2016 12

Creation