Glossary
Browse the IADC Lexicon alphabetically or by category. Get comprehensive definitions of drilling industry terms.
Oil & Gas Drilling Glossary - IADCLexicon.org
An asset is any person, environment, facility, material, information, business reputation, or activity that has a positive value to an owner. The asset may have value to a threat, as well as an owner, although the nature and magnitude of those values may differ.
Source:API STANDARD 780, Security Risk Assessment Methodology for the Petroleum and Petrochemical Industries, First Edition, May 2013. Global StandardsAny person, facility, material, information, business reputation, or activity that has value to an operator.
Source: Canadian Standards Association, Z246.1-09, Security management for petroleum and natural gas industry systems, August 2009, Regional Standards1. health and socio-economic conditions,
2. physical and cultural heritage,
3. the current use of lands and resources for traditional purposes by aboriginal persons, or
4. any structure, site or thing that is of historical, archaeological, paleonto-logical or architectural significance, or
3. any change to the project that may be caused by the environment, whether any such change or effect occurs within or outside Canada; effets environnementaux. Source: Canadian Environmental Assessment Act, 1992, c. 37, Canada, as consolidated November 2003. LegislationDegree to which an entity, asset, system, network, or geographic area is willing to accept risk.
Source:API STANDARD 780, Security Risk Assessment Methodology for the Petroleum and Petrochemical Industries, First Edition, May 2013. Global StandardsTool for ranking and displaying components of risk in an array. Risk matrices are user defined.
Source:API STANDARD 780, Security Risk Assessment Methodology for the Petroleum and Petrochemical Industries, First Edition, May 2013. Global StandardsAn individual’s knowledge, skills, abilities, and behavioral attributes that enable him or her to perform his or her work consistently, precisely, and reliably.
Source: International Association of Drilling Contractors, Competence Assurance-Guidelines for Building a Successful Program Revision April 2015. IADC Guidelines
An individual's ability to function within the scope of his/her work responsibilities.
Source: IADC Competence Assurance Accreditation Program. IADC GuidelinesAction taken to manage risk that shifts some or all of the risk to another entity, asset, system, network, or geographic area.
Source:API STANDARD 780, Security Risk Assessment Methodology for the Petroleum and Petrochemical Industries, First Edition, May 2013. Global StandardsThe process of identifying, analyzing, assessing, and communicating risk and accepting, avoiding, transferring or controlling it to an acceptable level considering associated costs and benefits of any actions taken.
Source: API RP 781 Security Plan Methodology for the Oil and Natural Gas Industries.1st Ed. September 2016. Global StandardsProcess of identifying, analyzing, assessing, and communicating risk and accepting, avoiding, transferring or controlling it to an acceptable level considering associated costs and benefits of any actions taken.
Source:API STANDARD 780, Security Risk Assessment Methodology for the Petroleum and Petrochemical Industries, First Edition, May 2013. Global Standards