Search results

1 – 10 of 679
Book part
Publication date: 5 October 2018

Olubukola Tokede, Adam Ayinla and Sam Wamuziri

The robust appraisal of exploration drilling concepts is essential for establishing the economic viability of a prospective recovery field. This study evaluates the different…

Abstract

The robust appraisal of exploration drilling concepts is essential for establishing the economic viability of a prospective recovery field. This study evaluates the different concept selection methods that were considered for drilling operations at the Trym field in Norway. The construction of drilling rigs is a capital-intensive process, and it involves high levels of economic risk. These risks can be broadly categorised as aleatoric (i.e. those related to chance) and epistemic (i.e. those related to knowledge). Evaluating risks in the investment appraisal process tends to be a complicated process. Project risks are evaluated using Monte Carlo simulation (MCS) and are based on the fuzzy analytic hierarchy process (AHP). MCS provides a useful means of evaluating variabilities (i.e. aleatoric risks) in oil drilling operations. However, many of the economic risks in oil drilling processes are unanticipated, and, in some cases, are not readily expressible in quantitative values. The fuzzy AHP is therefore used to appraise the qualitatively defined indirect revenues comprising risks that affect future flexibilities, schedule certainty and health and safety performance. Both the Monte Carlo technique and the fuzzy AHP technique found that a cumulative revenue variation of up to 30% is possible in any of the considered drilling options. The fuzzy AHP technique estimates that the chances of profitability being less than NOK 1 billion over a five-year period is 0.5%, while the Monte Carlo technique estimates suggest a more conservative proportion of 10%. Overall, the fuzzy AHP technique is easy to use and flexible, and it demonstrates increased robustness and improved predictability.

Details

Fuzzy Hybrid Computing in Construction Engineering and Management
Type: Book
ISBN: 978-1-78743-868-2

Keywords

Abstract

Details

Prioritization of Failure Modes in Manufacturing Processes
Type: Book
ISBN: 978-1-83982-142-4

Content available
Book part
Publication date: 5 October 2018

Abstract

Details

Fuzzy Hybrid Computing in Construction Engineering and Management
Type: Book
ISBN: 978-1-78743-868-2

Abstract

Details

Database Management Systems
Type: Book
ISBN: 978-1-78756-695-8

Abstract

Details

Middle-Power Responses to China’s BRI and America’s Indo-Pacific Strategy
Type: Book
ISBN: 978-1-80117-023-9

Book part
Publication date: 19 October 2016

Michael Watts

Using the case of the Deepwater Horizon blowout in the Gulf of Mexico in 2010, I argue that the catastrophe was less an example of a low probability-high catastrophe event than an…

Abstract

Using the case of the Deepwater Horizon blowout in the Gulf of Mexico in 2010, I argue that the catastrophe was less an example of a low probability-high catastrophe event than an instance of socially produced risks and insecurities associated with deepwater oil and gas production during the neoliberal period after 1980. The disaster exposes the deadly intersection of the aggressive enclosure of a new technologically risky resource frontier (the deepwater continental shelf) with what I call a frontier of neoliberalized risk, a lethal product of cut-throat corporate cost-cutting, the collapse of government oversight and regulatory authority and the deepening financialization and securitization of the oil market. These two local pockets of socially produced risk and wrecklessness have come to exceed the capabilities of what passes as risk management and energy security. In this sense, the Deepwater Horizon disaster was produced by a set of structural conditions, a sort of rogue capitalism, not unlike those which precipitated the financial meltdown of 2008. The forms of accumulation unleashed in the Gulf of Mexico over three decades rendered a high-risk enterprise yet more risky, all the while accumulating insecurities and radical uncertainties which made the likelihood of a Deepwater Horizon type disaster highly overdetermined.

Details

Risking Capitalism
Type: Book
ISBN: 978-1-78635-235-4

Keywords

Book part
Publication date: 14 July 2006

Four Arrows (aka Don Jacobs)

Short-term military simulations of scenarios or conditions that U.S. military personnel might meet are generally the largest, in terms of cost and personnel, of all operational…

Abstract

Short-term military simulations of scenarios or conditions that U.S. military personnel might meet are generally the largest, in terms of cost and personnel, of all operational training events. That at least six such exercises were scheduled for September 11, 2001 raises serious questions about whether or not the events of 9/11 were at least partially orchestrated by U.S. command.

In light of the aforementioned military exercises and the fact that the 9/11 Commission's Final Report barely mentions them, neither were they significantly discussed nor investigated during the hearings, this essay briefly explores four key questions that will hopefully stimulate further inquiries, investigations and perhaps subpoenas that will ultimately break the silence and force declassification of the information surrounding the war games.1.Has there been a high-level suppression of information about the military drills?2.Might the military drills have been a significant factor in the success of the attacks?3.Who was in charge of the military drills and what motives may have been operating for this person?4.In what way might Zacarias Moussaoui, the only person charged in the United States for the attacks, be a link that connects to the person in charge of the games to another tragedy that may have been “an inside job” – i.e. Senator Paul Wellstone's death, and how might Moussaoui connect all of this to the Pentagon?

Details

The Hidden History of 9-11-2001
Type: Book
ISBN: 978-1-84950-408-9

Abstract

Details

Prioritization of Failure Modes in Manufacturing Processes
Type: Book
ISBN: 978-1-83982-142-4

Abstract

Details

Prioritization of Failure Modes in Manufacturing Processes
Type: Book
ISBN: 978-1-83982-142-4

Book part
Publication date: 13 August 2014

Tomoko Kubo, Toshiki Yamamoto, Michihiro Mashita, Misao Hashimoto, Konstantin Greger, Tom Waldichuk and Keisuke Matsui

Drawing on a case study in Hitachi City, Ibaraki prefecture, this chapter aims to analyze the relationship between community support and the behavior of residents after the Tohoku…

Abstract

Drawing on a case study in Hitachi City, Ibaraki prefecture, this chapter aims to analyze the relationship between community support and the behavior of residents after the Tohoku Pacific Earthquake in the regions affected by the disaster. The chapter will examine residents’ behavior and the community’s roles by way of the following process: (1) We will review Japan’s natural disaster prevention regimes; (2) we will examine the result of a field survey conducted in Hitachi City detailing the city’s natural disaster prevention procedures and the operation of some neighborhood evacuation sites; (3) the behavior of residents following the earthquake is analyzed. In this part, questionnaires were sent to 2000 households, of which 492 (24.6%) were collected and used for this analysis. The earthquake and tsunami destroyed lifelines such as water supply for several days in the city. According to the city, a total of 65 buildings were judged to be in dangerous condition, 251 as requiring care, and 478 were only partially damaged. The most serious damage was found mainly in the city’s coastal areas, where a total of 85 houses were entirely or partly damaged, and 483 houses were flooded above the floorboards by the tsunami. On March 11, a total of 69 evacuation sites opened, and 13,607 residents rushed into them. After the disaster, residents initially tried to go back to their homes. Depending on the damage done, they either stayed there or moved to a relative’s or friend’s house, or to a neighborhood evacuation site. Due to the failure of the lifelines, transportation systems, and the damage caused by the disaster, most residents had to stay within an area more limited than usual, around which they could walk or ride by bicycle. Residents had only the human and physical resources of their neighborhoods. Therefore, the characteristics of their local communities affected how residents behaved during and after the earthquake.

Details

Risks and Conflicts: Local Responses to Natural Disasters
Type: Book
ISBN: 978-1-78190-821-1

Keywords

1 – 10 of 679