Fuzzy risk assessment of oil and gas offshore wells.

Risk evaluation of offshore wells is a challenging task, given that much of the available data is highly uncertain and vague, and many of the mechanisms are complex and difficult to understand. Consequently, a systematic approach is required to handle both quantitative and qualitative data as well as means to update existing information when new knowledge and data become available. Each Basic Risk Item (BRI) in a hierarchical framework is expressed as a fuzzy number, which is a combination of the likelihood of a failure event and the associated failure consequence. Analytical Hierarchy Process (AHP) is used to estimate weights required for grouping non-commensurate risk sources. Evidential Reasoning (ER) is employed to incorporate new data for updating existing risk estimates. It is envisaged that the proposed approach could serve as a basis for benchmarking acceptable risks in offshore wells. [ABSTRACT FROM AUTHOR]