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DNV GL calls for industry collaboration to quantify fracking risks


Published Oct 16, 2014
Richard Green - DNV GL
Richard Green - DNV GL’s Director for Unconventional Oil & Gas in North America

To address widespread concerns about fracking risks, particularly related to contamination of groundwater, DNV GL invites industry and other stakeholders to a joint industry project (JIP). The aim is to collect data, develop and validate quantitative risk assessment methodologies and outline risk management strategies that can be widely accepted by all relevant parties.

The shale industry encompasses a great number of companies, so aggregated, quantifiable fracking related data is hard to come by. This makes it more difficult for various stakeholders to assess fracking risk at various well depths, geological formations, and mixes of fracking solution components. Risks are mitigated by utilizing various well design barriers that are intended to protect groundwater resources.

DNV GL is proposing to bring together key stakeholders from all over the world: operators, service companies, academics, financiers, regulators and other interested parties. The objective is to collect and analyze shale gas fracking related data, apply statistical methodologies and then define quantitative measures of fracking risk to both horizontal and vertical portions of a well.

Tags: DNV GL Oil & Gas




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