Research On The Risk Management Of CNOOC Missan Oilfield Project

With the deepening of the “going global” strategy,Chinese oil and gas enterprises have been actively exploring the international market.However,overseas oil and gas development projects are characterized by large investment,long period,high uncertainty,and low regional and political stability,all of which bring many risks to oil and gas enterprises’ overseas development.In addition,the international situation has become more complex,and competition in the international economic and tread field is heating up.Moreover,the global impact of the COVID-19 pandemic continues to expand.Many aspects bring more challenges and risks to oil and gas companies.Therefore,the risk management of overseas oil and gas development projects becomes critical.It is necessary to identify and evaluate potential risk factors and effectively prevent and control them.Based on the theoretical knowledge of risk and risk management,this paper carried out a study on the risk management of CNOOC Missan oilfield project,sorted out the risks of project,and the current situation and shortcoming of risk management.On this basis,the risk management is analyzed in detail,including risk identification,risk assessment and risk response.Moreover,risk factors are divided into external risk and internal risk,from the perspective of risk sources.34 specific risk factors were identified through questionnaires,and analyzed by applying the AHP method.The importance of each risk factor was ranked,and the top three risk factors were war or terrorist attack,epidemic control,and local employee management.Based on the analysis and assessment results,we propose recommendations for risk factor control in terms of reducing political,project management risk,resource deployment risk,market risk,standard and regulatory risk,social environmental risk,and natural environmental risk.