Oil Spill Risk Management Strategy Modeling

Abstract

The article is devoted to the problem of oil company strategy modeling in the sphere of emergency oil spill risk management. In the article the reasons of oil spills are considered and it is shown what a huge damage they can cause. The author pays great attention to the importance of risk management in oil spill prevention and liquidation. The role and place of risk management strategy in the general company development strategy is defined. The classification of risk management decisions is presented. The main hypotheses used in the process of optimization model development are shown. The characteristics of the model, including formulas, variables and model features are under consideration in the article. The modern toolkit (methods, decision programming language) to run a computer simulation using eventual oil spill risk scenarios on the basis of the model is recommended in the article.