In a world less than perfect the only thing you can expect for certain is the unexpected. Within the oil and gas industry, a profitable project may turn into financial distress – unless the unexpected has been quantified and taken into consideration.

When evaluating alternative concepts for subsea production and processing, novel technology and high risks are often prominent factors. In supporting such evaluations, we address a set of key issues:

• What can go wrong?
• How reliable is the equipment?
• What are the consequences of failure?
• How are unplanned events factored into business decision analysis?

In regard to subsea operations DNV offers services to assess and manage the risk exposure in the following areas:

• Production availability
• Intervention costs including mobilisation of vessels and crew
• Availability of intervention vessels and crew
• Inventory levels of spare parts critical to production
• Lost production during production outage
• Financial benchmark figures (e.g. NPV and IRR)
• Variations in production start-up date
• Cost-benefit of various maintenance and intervention strategies
• Effect on total cost as a result of qualification.