Risk Matrix as a Tool for Risk Analysis in Underwater Operations in the Oil and Gas Industry

Abstract

The study is a cross-sectional design assessment of the likelihood, frequency and severity of hazards associated with underwater operations in the Niger Delta. Five oil and gas companies were used for this study selected by a purposive method given that they had the highest number of workers involved in underwater operations. A sample size of 418 was computed to which the questionnaires were administered with response rate of 95.93%. Data analyses were carried out to cover descriptive statistics, analysis of variance and Pearsonal correlation coefficients. The 4 by 4 risk assessment matrix for the likelihood and consequences showed that 8 out of 20 underwater hazards were categorized as having very high risk according to their risk ratings. The eight hazards categorized based on their risk IDs were H01, H03, H04, H08, H10, H11, H12, and H15. The 4 by 4 risk matrix for frequency and consequences revealed that two hazards (Piracy & bandit attack/kidnapping (H01) and Other main vessels/heavy object dropping or falling load/collision (H08)) were identified to be of very high risk.