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Introduction "Probabilistic Risk Assessment (PRA) is a tool that has gained increasing popularity across several industries from nuclear power to human spaceflight to systematically and comprehensively evaluate risks associated with complex engineered facilities. The Bureau of Safety and Environmental Enforcement (BSEE), in partnership with the National Aeronautics and Space Administration (NASA), is exploring the ability of PRA to assist in the evaluation and communication of risk in the offshore oil & gas industry. . With the boundaries of exploration, development, and production facing challenges from harsher environments and new technologies, understanding the risks involved becomes more important than ever to ensure continued high levels of safety and environmental protection. By exploring the use of PRA, BSEE is considering the potential of PRA as a tool that can provide additional insights into the levels of risk involved in challenging offshore operations as well as facilitate communication with the industry on how to best manage those risks. This paper presents a context for PRA in terms of current risk assessment practices in the industry, identifies the benefits of PRA, and provides a description of the PRA tool."

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