Where Is the Safest Offshore Region for Oil, Gas Right Now?

Where Is the Safest Offshore Region for Oil, Gas Right Now?
There are two perspectives that can be taken on the topic, according to Dryad Global.

There are two perspectives that can be taken on the topic, according to Alex Robak, an analyst at global risk intelligence company Dryad Global.

“From one perspective, one can look at the overall absence of risk - from this perspective, we can easily say that either the United Kingdom’s North Sea or Canada’s Nova Scotian continental shelf is the safest region for offshore oil and gas operations right now,” Robak told Rigzone.

“From an alternative perspective, we can take a look at regions in which there is an ongoing presence of risk, yet there exists an absence of direct threats or incidents. This perspective would point to either the Mediterranean Sea or West Africa as the safest region right now for offshore oil and gas production,” he added.

Simply looking at the overall absence of risk would lead one to conclude that either Canada or the United Kingdom are the most secure regions in the world for offshore oil and gas, Robak noted.

“Canada’s offshore industry accounts for approximately one million barrels per day, and its geographic location along the Nova Scotian continental shelf has been a benefit in that there is little to no risk to its continued operation on a day-to-day basis,” Robak said.

“The United Kingdom’s offshore facilities in the North Sea are similarly well positioned geographically. Additionally, both countries have strict regulatory frameworks in place to protect offshore oil rigs from potential security threats that may arise,” Robak added.

The Dryad Global analyst outlined that, from the “second perspective”, Dryad “can point to West Africa as a region in which one would attribute a moderate risk factor”.

“However, as there has been a decline in overall piracy and armed robbery incidents in the past few years, this risk has seemingly not translated into any sort of meaningful threat to day-to-day operations,” he said.

“This is the result of regional governments and international organizations having taken significant steps to combat maritime crime through military means and intelligence sharing,” Robak added.

“Alternatively, the Mediterranean Sea is a region in which geopolitical instability has created an environment with a moderate level of risk as a result of the ongoing crisis in Libya. This conflict has continually threatened oil supply to Europe over the past year. Despite this, there is very little in the way of active threats to operations of offshore oil rigs themselves in any meaningful way,” Robak continued.

When asked where the safest offshore region for oil and gas is right now, Lars Petersen, the regional medical director for International SOS, which describes itself as a pioneer and leader in international health and security risk management, said, “Norway has the best supervised regulatory system in the global offshore space”.

“Considerations on the safety of offshore regions for oil and gas workers also depends on the age and quality of the offshore installations (well defined in the Norwegian regulations), safety culture on board (company dependent) and the health of the offshore workers,” Petersen told Rigzone.

Back in September 2022, Rigzone looked at the most dangerous offshore region for oil and gas. To view that article, click here. To contact the author, email andreas.exarheas@rigzone.com

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