Risk indicators for major hazards in offshore petroleum operations have not been widely used until quite recently, and the uncertainty about what is the preferred approach is considerable. This paper attempts to describe a structured approach to such indicators, and to recommend a consistent approach. Proposed terminology for barriers and indicators is given. General requirements for development of risk indicators are presented from a theoretical as well as a HES management perspective. These requirements are presented in relation to broad categories of use on a national level, a company/installation level and an equipment level. A basic approach for development of risk indicators is presented, relating to incidents, barrier performance, activity levels, causal factors, management systems and cultural aspects. Suggestions for loss related and process related indicators, as well as indicators relating to causal factors are presented.
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