The Impact of Styles of Thinking and Cognitive Bias on How People Assess Risk and Make Real-World Decisions in Oil and Gas Operations
Awareness of the psychological realities of different styles of thinking can provide deep understanding of the choices people make and the actions they take when they are faced with assessing risk and making decisions in real time under operational conditions. At a time when the industry is striving to achieve more with fewer staff and resources, there is a compelling need to understand better how these psychological processes actually influence real-world operations, and to develop practical approaches to mitigating the associated risks.
While there have been previous attempts to apply this area of knowledge to the analysis of real-world incidents and to develop operational interventions, such attempts have been limited to date, and have lacked the necessary research evidence. Written from a psychological perspective, the purpose of this paper is to illustrate how such knowledge can be operationalized and used to gain deeper understanding of the nature of human error in real-world oil and gas operations.
Study Finds Most Workers Prefer WFH as Companies Return to Normal From COVID-19
In a survey of 448 workers across the oil and gas industry, UH Energy asked key questions about returning to work during the global pandemic.
OFS Companies’ Stock Price, EBITA Margins Hit Hard From COVID-19 Fallout
Two intelligence groups share similar views on how the fallout from the COVID-19 pandemic has impacted OFS companies’ valuations and operations.
FPSOs May Need To Be Shut Down During Economic Downturn
FPSO sanctioning is at a minimum and few opportunities remain for FPSO suppliers to find new work and redeploy their vessels. Suppliers may be forced to accept day rate reductions in order to keep their vessels working.
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