Deepwater Sponsors: Dril-Quip, ExxonMobil Development, BP, Devon
Deepwater: Attacking Project Risk
“Deepwater: Attacking Project Risk”
March 30, 2005 - Welcome Event
March 31 - April 1, 2005 - Workshop
Estoril, Portugal
ASME, in conjunction with the Deepwater Steering Committee comprised of industry experts, has developed this second annual deepwater forum. This year the workshop will focus on risk as it applies to the deepwater community.
Each party involved in an EPIC project must recognize their role in defining, managing, and mitigating risk. Through the interactive workshop and breakout sessions, participants will work together not only to learn best practices on evaluating risk from their peers but also to understand the position of other parties in the assumption of risk. This process will provide a forum for discussions both with your peers and with your counterparts in negotiations, to hear their views and to understand how the elements of project risk can best be shared amongst the parties.
First and foremost, attendees will gain a much deeper understanding of the risks taken by each stakeholder in a typical deepwater project, and how they deal with these risks. In addition, the workshop will result in a short list of Guiding Principles for Deepwater Risk Management, addressed to all stakeholders in a project. The Guiding Principles can
be used by attendees to structure future contract negotiations by providing a common basis for understanding and dealing with risk sharing. Adherence to the Guiding Principles will lead to better project execution, faster schedules and lower costs as risks are appropriately shouldered by each stakeholder.
The quality of the workshop will be assured by limiting participation to 125 selected delegates from both operator and supplier communities. Participants should expect a demanding and rewarding experience.
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