Risk Management for Power Capture in the Evaluate stage

Objective

The objectives of this activity are:

• Risk evaluation for power plant and associated capture plant development. Preliminary development of risk mitigation options for high level project risks and associated quantification of impact

Major Deliverables

• Evaluation of potential impacts of risk in terms of quantification of cost and impact on general public
• Evaluation as required with key stakeholder groups and regulatory parties such as the HSE and Environmental Agency
• Preliminary evaluation of potential mitigation options going forwards for high level risks
• Evaluation of potential risk management strategy to be implemented at full FEED stage

Tasks

Specific tasks include the following:

• Evaluation of key objectives for the following (to be undertaken at FEED):
  • HAZID study – To identify the hazards posed by the process and materials used within the process, and the effects on the external environment
  • HAZOP study – To identify the likelihood of an incident occurring by failures, misuse or mal-operation of the process and to provide qualitative assessment of the risks
  • HAZCON study – To identify hazards likely to be encountered during the construction phase of the project and ensure appropriate mitigation
  • High level evaluation of FOAK risks posed by project selection including regulatory approval and securing initial capital investment
  • Evaluation of key project related risks across all phases of project cycle development including potential cost impact
• Consider when defining the HAZID scope to assess major project risks relating to the following areas:
  • Power plant development considering scale and technology selection
  • Cross reference to site selection frame considering potential site locations and hazard register
  • Development of commercial risk analysis with regards to capital funding/opex requirements
  • Risk analysis for associated infrastructure for capture plant, compression and dehydration equipment
  • Major regulatory compliance and environmental risks associated with project development
  • Scoring of initial risk register matrix of various stages of the project cycle to be taken forward to the evaluation stage
  • Ensure phase gate approach model to project to ensure appropriate risk mitigation and staged financial investment

Examples

• Guide on Project Risk Analysis and Management
• HSE Construction (Design and Management) regulations 2007
• International carbon capture and storage projects: overcoming legal barriers
• Carbon Capture and Storage Regulatory Test Toolkit 
• http://www.co2captureproject.org/

Key Personnel

• Project Manager
• Health and Safety Manager
• Engineering Manager
• Key Engineering Sub-Contractors
• Commercial Manager