Risk management is a very important role in the operation of the business, it helps to prevent and minimize business loss, damage, adverse effects which may occur in the course of operations, besides that it helps ensure profit of business and sustainable development.

Risk Management

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Risk Management

Risk management is a very important role in the operation of the business, it helps to prevent and minimize business loss, damage, adverse effects which may occur in the course of operations, besides that it helps ensure profit of business and sustainable development. Risk management is an area of expertise which is focused in the industry and especially in the oil and gas industry. SEN company is the leading independent consultancy in Vietnam in oil and gas industry. SEN does not only provide clients with a comprehensive, integrated approach to the analysis but also the necessary solutions in the very early phase of a project. Our assessment reports, which are presented in a simple, clear and standardized format, can be used as good reference for your internal training to operational staff on hazard identification and risk management. Typical risk management consulting services of SEN are as following:

HAZARD AND OPERABILITY STUDY (HAZOP)
Objectives

Hazard and Operability (HAZOP) studies are systematic, multi-disciplinary reviews carried out on a process design to determine potential problems in safety or operations that may arise due to deviations in process parameters.

Variations in flow, pressure, temperature, direction, etc. resulting from product changes, process settings, system configurations, equipment malfunction and/or mal-operation will be considered.

The recommended actions as results from a HAZOP may range from drawing corrections to selection of more suitable equipment, changes in configuration of equipment, sequence of control or parameter to be controlled or additions/changes to procedures.

Methodology

The study will review specific sections of the process (e.g. inlet line, vessel, pump discharge, etc.). The review applies Key Words (such as More, Less, High and Low) to each process condition/ parameter (i.e. Temperature, Pressure, Flow, etc.) in turn, to generate a deviation from design intent and analyses the resultant adverse effects on operations and safety. "'What-If" questions, such as "What if there is too much flow?" are, raised in the course of the review.

The causes and consequences of the hazard events are identified, with Actions/Comments noted for further assessment. The primary aim of the HAZOP study will be to identify failure events that have the potential to pose a hazard or to result in operability/maintainability problems such as shutdowns or failure. Incompatibility of materials of construction will also be highlighted.

All HAZOP findings will be recorded using HAZOP worksheet. Once all possible combination of keywords and process conditions have been assessed for a section of plant, the procedure is repeated for the next section of the process until the whole process has been assessed.

The HAZOP review will require the participation of engineers with different disciplines from the design team. It is important that the relevant specialist discipline personnel be available for this study to ensure the maximum benefit from the study.

In Vietnam, SEN conducted HAZOP studies for significant projects such as Refrigerated LPG Terminal in Long An, Su Tu Den Well Twinning WHP-A, Song Doc A SDA-NH1P Well Intervention, thermal communication for Hon Chong Cement Plant Outside Vietnam, SEN conducted HAZOP studies for dozen of new design and modification project.