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Risk Assessment and Management Workflow—An Example of the Southwest Regional Partnership

Author

Listed:
  • Si-Yong Lee

    (Schlumberger, Denver, CO 80202, USA)

  • Ken Hnottavange-Telleen

    (GHG Underground, Arrowsic, ME 04530, USA)

  • Wei Jia

    (Energy & Geoscience Institute, The University of Utah, Salt Lake City, UT 84108, USA
    Department of Civil & Environmental Engineering, The University of Utah, Salt Lake City, UT 84112, USA)

  • Ting Xiao

    (Energy & Geoscience Institute, The University of Utah, Salt Lake City, UT 84108, USA
    Department of Civil & Environmental Engineering, The University of Utah, Salt Lake City, UT 84112, USA)

  • Hari Viswanathan

    (Los Alamos National Laboratory, Earth and Environmental Sciences Division, Los Alamos, NM 87545, USA)

  • Shaoping Chu

    (Los Alamos National Laboratory, Earth and Environmental Sciences Division, Los Alamos, NM 87545, USA)

  • Zhenxue Dai

    (College of Construction Engineering, Jilin University, Changchun 130026, China)

  • Feng Pan

    (Utah Division of Water Resources, Salt Lake City, UT 84116, USA)

  • Brian McPherson

    (Energy & Geoscience Institute, The University of Utah, Salt Lake City, UT 84108, USA
    Department of Civil & Environmental Engineering, The University of Utah, Salt Lake City, UT 84112, USA)

  • Robert Balch

    (New Mexico Tech, Socorro, NM 87801, USA)

Abstract

This paper summarizes the risk assessment and management workflow developed and applied to the Southwest Regional Partnership on Carbon Sequestration (SWP) Phase III Demonstration Project. The risk assessment and management workflow consists of six primary tasks, including management planning, identification, qualitative analysis, quantitative analysis, response planning, and monitoring. Within the workflow, the SWP assembled and iteratively updated a risk registry that identifies risks for all major activities of the project. Risk elements were ranked with respect to the potential impact to the project and the likelihood of occurrence. Both qualitative and quantitative risk analyses were performed. To graphically depict the interactions among risk elements and help building risk scenarios, process influence diagrams were used to represent the interactions. The SWP employed quantitative methods of risk analysis including Response Surface Method (RSM), Polynomial Chaos Expansion (PCE), and the National Risk Assessment Partnership (NRAP) toolset. The SWP also developed risk response planning and performed risk control and monitoring to prevent the risks from affecting the project and ensure the effectiveness of risk management. As part of risk control and monitoring, existing and new risks have been tracked and the response plan was subsequently evaluated. Findings and lessons learned from the SWP’s risk assessment and management efforts will provide valuable information for other commercial geological CO 2 storage projects.

Suggested Citation

  • Si-Yong Lee & Ken Hnottavange-Telleen & Wei Jia & Ting Xiao & Hari Viswanathan & Shaoping Chu & Zhenxue Dai & Feng Pan & Brian McPherson & Robert Balch, 2021. "Risk Assessment and Management Workflow—An Example of the Southwest Regional Partnership," Energies, MDPI, vol. 14(7), pages 1-18, March.
    • Handle: RePEc:gam:jeners:v:14:y:2021:i:7:p:1908-:d:526938
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    References listed on IDEAS

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    1. Niall Mac Dowell & Paul S. Fennell & Nilay Shah & Geoffrey C. Maitland, 2017. "The role of CO2 capture and utilization in mitigating climate change," Nature Climate Change, Nature, vol. 7(4), pages 243-249, April.
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    Cited by:

    1. Si-Yong Lee & Farid Reza Mohamed & Kwang-Ho Lee & Brian McPherson & Robert Balch & Sangcheol Yoon, 2023. "Probabilistic Evaluation of Geomechanical Risks in CO 2 Storage: An Exploration of Caprock Integrity Metrics Using a Multilaminate Model," Energies, MDPI, vol. 16(19), pages 1-32, October.
    2. William Ampomah & Brian McPherson & Robert Balch & Reid Grigg & Martha Cather, 2022. "Forecasting CO 2 Sequestration with Enhanced Oil Recovery," Energies, MDPI, vol. 15(16), pages 1-7, August.

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