The effect of Macondo blowout on risk analysis and risk management

On April 20th, 2010 the offshore petroleum industry was hit by a severe accident. The undetected entry of high pressure – high temperature, highly charged hydrocarbons out from the Macondo exploration well to the rig and the ignition of hydrocarbon caused a blowout and a catastrophic explosion. The accident took place during the temporary abandonment. It killed 11 platform workers while 17 others were seriously injured. The Macondo blowout was followed by extensive investigations, studies and researches with an aim at strengthening safety and reducing risk during drilling in complex offshore environment. In this Master thesis, a thorough analysis is conducted to evaluate the recent development of risk analysis and risk management in oil and gas industry. A focus will be on Macondo accident and its effect on organizational factors, effects on standard and regulations, impacts on regulatory bodies and associations. Based on risk analysis techniques, measures will be proposed to improve barriers performance and safety during drilling and wells completion in the Deepwater environment. The basis of this work will be the literature review, the study of existing investigations reports as well as interviews with professionals and experts within the oil and gas industry with the aim at finding how the Macondo accident has impacted the safety culture when it comes to the concept, the design and the drilling operations