According to the need to regulate the assessment of risk levels associated with hydrocarbon facilities within Peru, the Ministry of Energy and Mines (MINEM) issued, in May 2022, the Board of Directors Resolution No. 088-2022. Annex I of this RCD details the general guidelines for the development of Security Risk Studies.

The Security Risk Study (SRS) is a process designed to identify hazards, assess risks, and establish prevention and mitigation measures. This is essential to ensure the safety of people, the environment, and facilities in the oil and gas industry.

Scope

The SRS covers all facilities located within the boundaries where the activity is carried out. The objectives, both of the activity and of the Study preparation, are also clearly detailed.

Working team

The team that prepares the SRS must consist of qualified professionals with experience in risk identification, assessment, and management. It is recommended that it includes a project leader and specialists in process safety, risk assessment, and industrial safety. Various disciplines may also participate as needed during the hazard identification and risk assessment stages.

Description of facilities and process

A very important stage in risk assessments is knowledge of the facilities, their environment, and the processes involved. This includes determining the areas of direct and indirect influence, understanding the population density in the location area, its cultural heritage, flora and fauna; knowing the equipment involved in the process, its distribution, and operating conditions, among others.

Hazard identification

A critical step in preparing the SRS is hazard identification, recognizing events that may cause harm to people, the environment, or facilities. Different methodologies and techniques can be used for this, such as Hazard and Operability (HAZOP), Hazard Identification (HAZID), What-if or Checklist.

Risk assessment

Once hazards are identified, the associated risks are assessed for each. This involves estimating the likelihood and consequences of each identified hazardous event, which is key in preparing an SRS, as it allows for establishing prevention and mitigation measures in hydrocarbon activities to reduce them to acceptable levels.

The risk assessment process can be divided into three main sections:

• Failure Tree Analysis (FTA) can determine the likelihood of an event, such as a loss of containment.
• Consequence assessment can be divided into two sub-activities. The probability that the loss of containment will turn into a jet fire, a fireball, or a BLEVE, among others, can be determined through an Event Tree Analysis (ETA). Additionally, determining the areas (and thus people and equipment) affected by each final event can be established through a Consequence Assessment Analysis (CAA).
• The final determination of risk levels is made from the results obtained in the two previous stages, in a Quantitative Risk Analysis (QRA).

Protection layers
After the risk analysis is developed, a Layer of Protection Analysis (LOPA) workshop is held to identify Safety Instrumented Functions (SIF) and their Safety Integrity Level (SIL). As a result, residual risks associated with each hazard are obtained, considering the performance of the mentioned functions.

Prevention and mitigation

Prevention and mitigation measures may include implementing safety barriers, modifying facility designs, implementing safe operating procedures, and staff training, among others.

Reevaluation

Once prevention and mitigation measures are implemented, their effectiveness is assessed to reduce risks as much as possible. Tests, simulations, or inspections can be conducted to analyze this.

Conclusions

The SRS is a fundamental tool for achieving safe operation with controlled risk levels, thus maximizing asset performance without compromising safety and minimizing potential environmental impact.

This is a living process that must be conducted and reviewed periodically. The experience and training of the professionals on the team are key aspects, often minimized, to ensure the effectiveness of the designed plan.