The oil and gas industry is complex and continuously evolving, requiring companies to

continuously strive for increased profitability. In these efforts, oil and gas companies encounter

dynamic risks emerging from various sources, which necessitate the implementation of

effective management strategies. Technological advancements have been realised as a crucial

component in addressing these risks and enhancing risk management strategies.

Your task is to produce a coursework that analyses the risks associated with the industry, and

explore preventive strategies implemented by oil and gas companies to overcome these risks.

Additionally, the coursework should examine how technology advancements in the industry are

linked to these strategies, providing specific benefits and applications. Specifically, the

coursework should:

$(1)$ Define and analyse key risks associated with the oil and gas industry, focusing on one

specific segment of the value chain $($upstream$,$ midstream or downstream$).$ Support your

analysis with recent, relevant examples from different countries or projects.

$(2)$ Present and critically discuss the strategies followed by oil and gas companies to mitigate

or overcome these risks and achieve profitability.

$(3)$ Review and critically evaluate how technology advancements are linked to the strategies

mentioned in point $(2)$ and how they are employed to enable automated procedures,

optimise processes, reduce costs, eliminate errors, etc. and thus enhance profits.