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Dissertation Proposal (RISK MANAGEMENT IN OFFSHORE OOL OPERATIONS IN GHANA: A CRITICAL ANALYSIS) TABLE OF CONTENTS

   

Added on  2020-07-22

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Dissertation Proposal(RISK MANAGEMENT IN OFFSHORE OIL OPERATIONS INGHANA: A CRITICAL ANALYSIS)
Dissertation Proposal (RISK MANAGEMENT IN OFFSHORE OOL OPERATIONS IN GHANA: A CRITICAL ANALYSIS) TABLE OF CONTENTS_1
TABLE OF CONTENTS1. INTRODUCTION.......................................................................................................................12. PROBLEM SPECIFICATION....................................................................................................23. AIMS AND OBJECTIVES.........................................................................................................24. LITERATURE REVIEW............................................................................................................2Risk and risk management theories.............................................................................................2Inherent risk factors in and risk management practices in the offshore oil sector.......................35. METHODOLOGY......................................................................................................................46. SCOPE OF WORK/DELIMITATIONS.....................................................................................67. SIGNIFICANCE OF THE STUDY............................................................................................6REFERENCES................................................................................................................................7
Dissertation Proposal (RISK MANAGEMENT IN OFFSHORE OOL OPERATIONS IN GHANA: A CRITICAL ANALYSIS) TABLE OF CONTENTS_2
1. INTRODUCTIONResearch title: To critically examine the risk management practices in offshore oil operations inGhana - A critical analysis Background of the studyRisk is an inherent part of every business function and activity and can be defined asuncertainty. It is the likelihood or possible occurrence of consequences that adversely impact thefunctioning. In order to survive successfully in the competitive world, it is necessary forestablishments to make proper risk management and mitigation plan. It is the logical orsystematic way to identify, analyse, respond, monitor and communicate risky componentsassociated with regular processes or activities that will facilitate firm to reduce its occurrence.Referring Ghana’s oil industry, it runs their operations through five interlinked phases includingexploration, appraisal, development, production and abandonment. The process of exploring oil& natural gases need huge investment that is subjected to the uncertainties and natural hazards(Bergh and et.al., 2014).The industry is regulated by GNPC (Ghana National PetroleumCorporation) and Ghana Oil Company (GOIL).In Ghana, Dana Petroleum Plc. was the first who discovered offshore oil exploration inWestern Tano area in deep water and shallow (Dana Offshore Ghana Oil discovery, 2000).Although, Ghana is an emerging nation in the oil and gas production because economic stabilityand healthy investment climate attract investment in this sector, still, in the recent years, itsgrowth rate has been slowed due to technical issues faced by offshore units (Chen and et.al.,2014). Besides this, there are many undesirable consequences such as operational,environmental, political, resource constraints and others which offshore companies can face. Indespite of this, GNPC predicted future industry outlook and as per this, it is expected that thesector will go up to US $60bn by 2022. The current thesis is aimed to thoroughly examine thathow undeniable risks i.e. health and safety, political, oil price volatility, credit risk and others areadministrated and managed by offshore oil companies in Ghana. 1 | P a g e
Dissertation Proposal (RISK MANAGEMENT IN OFFSHORE OOL OPERATIONS IN GHANA: A CRITICAL ANALYSIS) TABLE OF CONTENTS_3

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