National Strategic Oil Reserves Uosrc Project Risk Management

With the rapid development of economic,China's energy demand,especially the oil demand rises dramatically.Since 1993,China has become a net importer of oil,and oil imports increasing poses a serious threat to China's economic security and the security of energy supply.In order to cope with fluctuations of oil price,China has put the planning and implementation of national strategic petroleum reserves into practice.Seeing the safety and economic of Oil reserves and other considerations,underground reservoir owes a larger advantages.But the Underground Oil Storage in Rock Caverns,or UOSRC has the characteristics such as large scale,high investment,high safety requirements,engineering complication and so on,while China has only just started UOSRC building and lacks of experience about engineering design,construction and operation.Therefore,a strategic oil reserve UOSRC security issues will become national and community focus.Because of this,the risk management research of strategic oil reserve UOSRC project becomes particularly important and urgent.In this paper,the process and methods of the project risk management are introduced systematically based on the basic idea of the risk and risk management. The risk factors of the project and its recognition method were discussed,discourses upon the project risk assessment and analysis,ranks the Risk factors were obtained using Analytical Hierarchy Process or AHP,and finds out the dominant role of the major risk factors.The last part of the article introduces the Strategies to the risks of the project and brings forward the response measures against the risk of the UOSRC project.