The Oil Spill Risk-Ranking Methodology

ABSTRACT This paper presents a methodology to semi-quantitatively compare and rank oil spill risk in various parts of the world from a wide variety of facilities and operations. A risk-based comparison of facilities is useful for identifying the greatest potential risks to the company, and establishing the appropriate priorities for response planning, training and exercises. Broken Hill Proprietary Company Ltd. (BHP), working with Risk Management Associates, has developed a methodology to semi-quantitatively rank facilities by the relative risk of a spill, and the potential business impact. Utilizing the oil spill risk-ranking methodology (OSRisk method), the relative risks of an oil spill are calculated in terms of the likelihood a release will occur, and the severity of the release, using the equation: Risk = Likelihood × Severity. A Facility Assessment Form has been developed to gather the necessary information from facilities located in different areas of the world. The OSRisk method provides tables a...