New perceptions change risk planning

摘要

The oil and gas industry must reevaluate its most pressing risks in light of an uncertain future. The oil and gas industry is still recovering from the greatest global financial shock in more than 75 years. The worldwide economy remains in a fragile state, and additional stress is anticipated because of slow job growth, continued deleveraging, and the uneven manner in which advanced and emerging market economies are weathering the financial storm. Against this backdrop, the blowout of an exploratory deepwater oil and gas well in the Macondo prospect in the US Gulf of Mexico (GoM) on April 20, 2010, touched off an explosion and fire aboard the Deepwater Horizon drilling rig, killing 11 workers and resulting in the leaking of millions of barrels of oil. The incident draws attention to the critical need to focus on risk management and to plan for the unexpected, regardless of how remote it might seem. In the wake of this disaster, the industry can expect renewed and expanded regulatory focus on safety and environmental risk preparedness and mitigation. The incident also will impact individual, corporate, financial, and legal risks.