Acceptable Risk Levels in Petroleum Operations

Kim Linh

16:36, 11/07/2024

The Ministry of Industry and Trade has recently issued Circular 40/2018/TT-BCT on the construction and content of safety management documents in petroleum activities.

In this Circular, the determination of acceptable risk levels in petroleum operations is prescribed as follows:

- The acceptable risk level for quantitative risk assessment in petroleum operations is based on Circular 50/2012/TT-BCT on national technical regulations on acceptable risk levels in quantitative risk assessment for petroleum, oil, chemicals, and thermal power operations QCVN 11:2012/BCT;- The acceptable (individual) risk level of organizations and individuals may be allowed, provided the risk level does not exceed the risk levels prescribed in QCVN 11:2012/BCT.

The acceptable risk level is determined before conducting risk analysis and is the basis for the evaluation and mitigation of risks.

Refer to Circular 40/2018/TT-BCT effective December 14, 2018.

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