Empirical Research On Risk Management Of Overseas Petroleum Engineering Projects

With the development of global economy and promotion of national policies,overseas petroleum engineering construction projects have gradually increased in recent years.However,various types of risk events occur frequently in the petroleum engineering construction overseas,and the risks are extremely high,the research on risk management in overseas petroleum engineering projects is imperative and has important practical value.Using Chad refinery project as an empirical case,this paper combines risk management theory and risk assessment model to study risk management.The main work is as follows:Combining expert interview method and data query method,objectively and comprehens ively identify the risk factors in the investment decision making stage of overseas petroleum engineering projects’ and use the Chad refinery project as an empirical case to identify 8 external risk types,5 internal risk types and 35 specific risk factors that constitute these risks,then generated a risk list.Build a hierarchical structure model for the identified risks,construct a risk evaluation in system,use questionnaire survey method and analytic hierarchy process to evaluate all the identified risks one by one,determine the weight of each risk factor,rank the 13 risk types and 35 specific risk factors,and identify the main risk types and the main risk factors among these types.Through comprehensive evaluation,it is concluded that among external risks,the high level ones are participation risk,legal risk,design risk,market risk,political risk,social risk and economic risk;and internal decision risk and technical risk are high level ones among internal risks.First,analyze above main risks;describe specific risk events that constitute each risk factor,reasons for the risks,and possible losses caused by the risks.Secondly,the main risk factors are roughly classified into three levels:the national level,the enterprise level,and the project’s own level.The corresponding strategies are adopted to achieve risk avoidance or control.Finally,the risk response measures are developed one by one for the identified major risk factors and specific risk events.Through empirical case study on risk management in investment decision making stage of overseas petroleum engineering projects,this paper focuses on the risk factors of "people"in external risks,affirms the importance of internal risks,and responds to major risk factors in internal risks.It provides a new perspective for risk management of overseas petroleum engineering projects in investment decision making stage,and hopefully offers certain reference and guidance for such projects...