WAHA OIL COMPANY

2024
PROGRAMS RISK MANAGEMENT PLAN

PROBABILIT RISK
IMPACT
REF RISK PROJECT PLAN SECTIONS Y Analysis/Assessment RESPONSE RESPONSE DESCRIPTION MONITORING
1–3
1–3 STRATEGY

- Management to expediate the

Delay and issues for awarding
contracts and equipment shippment.
contracts
Alignment with customer
- Facilitate the procurement process
expectations
1 Procurement to initiate PRs 2 3 Major technical or commercial MITIGATE
- Use real-time reporting and data
issues
tracking y to avoid many of the
potential risks can be faced.

Delay and issues for awarding

contracts
Alignment with customer
2 Contracts award 2 3 MITIGATE Split PRs
expectations
Major technical or commercial
issues

- Routine Communication with

suppliers and asking for feedback
Procurement that can help to
3 Supply Delivery delays 3 3 Impact on Execution Phase MITIGATE
• Reduce time spent to complete
• Speed processing time

Major technical, commercial ,

CPF / Field / station capacity to be
management, construction, etc.
4 Critical path which impact Project success 2 2 MITIGATE parallel expansion as per the
issues
production enlarge.

- Facilitate the procurement process

Delay of PO issuing due to a
Use real-time reporting and data
5 Delay of PO placement 2 3 probably Lengthy procurement MITIGATE
tracking y to avoid many of the
Process
potential risks can be faced.

A delay to material arriving at site due to customs - Ensure all paper work done and
6 2 3 Delay on Execution phase MITIGATE
clearance, security concerns. approved

Material Sepecifications does not

- Factory inspection for ensuring
meet WOC requirements.
product quality
7 Material does not meet the Standards requirements 2 3 AVOID
MDR, related action plan and OSD
Material Quantity does not meet
report should be done.
the required quantity

5 Rigs available in Q1, 4 in Q2

and 16 in Q3 - Management to complete all paper
8 Drilling Rigs availability 2 3 MITIGATE
Delay could happen when works approval.
receiving rigs in Q2 and Q3

4 WO rigs available in country.

Delay could appear around
- Good coordination between Drilling,
9 Service rigs availability 2 3 starting day. MITIGATE
R&P and OPS to avoid delays
Change in programs in case new
issue on wells.

Availability in country and ready - Ensure submission, approval and

10 Tubing and completions equipment 2 3 MITIGATE
to shift to sites. transportations done

Material

Created by : Planning Department 1 of 3 Programs Risk Management Plan

 PROBABILIT RISK
IMPACT
REF RISK PROJECT PLAN SECTIONS Y Analysis/Assessment RESPONSE RESPONSE DESCRIPTION MONITORING
1–3
1–3 STRATEGY

Material
Availability in country and ready - Ensure submission, approval and
11 ESPs and VSDs 2 3 MITIGATE
to shift to sites. transportations done

Flowlines (Incl Piping, Feetings, Valves and Accessories)

Process and E/I/T equipment:
Wellhead Control Panel
Disctribution Board Availability in time after drilling - Management to expediate different
12 2 2 MITIGATE
Remote Terminal Unit and workover jobs. approvals
Electrical and Instrument Cables
Lighting Tower with Features
Fencing

Budget and cost approval Delay in submission, approval - Finance team to prepare all
13 1 3 MITIGATE
and funding documents and submission on time
Risk monitoring should be a
continuous process.
- Predict costs with precision
Procurement - Estimation methods and tools should A risk register should contain
be chosen and applied appropriately the following information as
by collecting and verifying relevant a minimum:
Cost estimates not accurate
14 1 3 Cost under or over estimate MITIGATE data, such as historical records,
market prices, design specifications, risk identification number
and site conditions. risk owner
- Assumptions and contingencies description of risk
should be documented and justified results of assessment
(Probability/Impact) and
date of assessment
mitigating actions - what
Budget and Cost - Implement a time and cost tracking are you going to do to
system. address the risk
- Contingency plan is developed and date when the risks will next
documented. be reviewed
Cost overruns - Schedule and track the project
15 2 3 Cost reduction in budget MITIGATE
resources
- Track costs for each task
- Review and learn from the previous
projects’ performance

- Ensure a good practice to request

the projects funds ( Funding Lookahed
16 Funding Cuts 1 3 MITIGATE
plan)

Deviations from what was

originally agreed due a new - Implement a plan for how to
17 Scope likely to be changed Scope Management 2 3 requirements which will affect ACCEPT manage scope change.
the project Schedule and - Follow up the scope change plan.
Budget.

- Clear and realistic time

Completion date is behind
18 Overly optimistic deadlines Time Management 2 3 MITIGATE management
schedule
- Review and follow up

Non conformance report, Quality

19 Quality Standards to meet as per Project Quality Plan Quality Management 2 2 control procedures, quality MITIGATE - Non-conformance report
document ( ITP, PQR, WPS..)

Created by : Planning Department 2 of 3 Programs Risk Management Plan

 PROBABILIT RISK
IMPACT
REF RISK PROJECT PLAN SECTIONS Y Analysis/Assessment RESPONSE RESPONSE DESCRIPTION MONITORING
1–3
1–3 STRATEGY

People not qualified to

20 Loosing for Project key members during peak time 2 2 MITIGATE - Skilled and qualified people
implement the jobs
Resources Management
- Setting contingency plans.
Insufficient or inadequate
21 Resources not available as required. 2 2 MITIGATE - Regularly monitoring resource
resources to complete a project
utilization

-Ensure that resources

(engineers/Contractors) are allocated
Immediate response required
22 Major technical issues 2 3 MITIGATE judiciously
from contractors
- Prepare a Strategy to Conduct the
Technical Risk Management
Engineering
Changes required on the schedule as
Concerns on status of PEER reviews planned and Weekly progress & scheudle
23 2 2 MITIGATE per the situation
occurring. review meeting
Weekly progress followup meeting

Immediate response required Site/ Field modification notice,

24 Project critical success factor 2 3 MITIGATE
from owner and contractor documents and drawing issuance
- Suitable preparation the wells before
Unforced conditions during
25 Drilling programs 2 3 MITIGATE mobilization
Procurement execution programs
- Best procedures available

- Suitable preparation the wells before

Unforced conditions during
26 Completions programs Reservoir and Production 2 3 MITIGATE mobilization
execution programs
Best procedures available.

- Suitable preparation the wells before

Unforced conditions during
27 Workover objectives 2 3 MITIGATE mobilization
execution programs
- Best procedures available.

The schedule does not make any

specific assumptions relating to in- - HSE Procedures for all activities to be
28 Security risk Security 1 3 MITIGATE
country security. This will require available
further separate review.

Severe Weather Condotions and - HSE Procedures for all activities to be

29 Risk of sandstorms, heat impacting project completion Weather conditions 3 3 ACCEPT
can cause a work stoppage. available

Static and rotating equipment Preventive Maintenance, inspection

Surface Facilities Capacity are below the estimated
30 Operation 3 3 have to be overhauled and AVOID according to WOC agreed
production flow capacity.
available. maintenance strategies and plans.

Created by : Planning Department 3 of 3 Programs Risk Management Plan