A Risk Analysis Study to Systematically

The role of offshore and deep-water drilling in today’s oil production is undeniable. According to the International Energy Agency (IEA) (2010), a third of the world oil production came from offshore drilling in 2010 and this number is expected to increase to about half in 2015. In the confirmation of this fact, Fig.1 shows the summary of all the wells, which have been drilled in the Gulf of Mexico from 1940 to 2010 by indicating their water depth. This figure illustrates that the demand for offshore and deep-water drilling has been exponentially increased since last few decades.