Oil and Gas Processing Equipment: Risk Assessment with Bayesian Networks

Oil and gas industries apply several techniques for assessing and mitigating the risks that are inherent in its operations. In this context, the application of Bayesian Networks (BNs) to risk assessment offers a different probabilistic version of causal reasoning. Introducing probabilistic nature of hazards, conditional probability and Bayesian thinking, it discusses how cause and effect of process hazards can be modelled using BNs and development of large BNs from basic building blocks. Fo...