Oil Exploration – NBC Institute

CSME – May 2024 – L2 – SA – Q2 – Risk Management and Corporate Strategy

Evaluate risk management practices and responsibilities in an oil exploration company.

Question

An oil exploration company is planning to overhaul its risk management infrastructure. Prior to this time, there has been an upsurge in the number of oil spillages and fire outbreaks at its production facilities. Preliminary investigation narrowed the cause of these incidents to inadequate and ineffective risk identification system. You have been appointed to head the newly constituted risk committee, saddled with the responsibility of strengthening the company’s risk identification system.

Required:

a. Explain the meaning, purpose, and importance of risk identification.
(7 Marks)

b. Outline the risk management process.
(8 Marks)

c. Describe the responsibilities of a risk committee.
(5 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Committee Responsibilities, Oil Exploration, Risk Identification, Risk Management Process, Safety Protocols
Level: Level 2

Topic: Risk Management and Corporate Strategy
Series: MAY 2024

BMIS – Dec 2023 – L1 – Q1a – Competitive forces and markets

Explains five benefits of forming a strategic alliance in the oil exploration industry.

Question

The Gana Oil Company was granted a license by the government to conduct its own oil explorations and drilling in Ghana. The Chief Executive Officer (CEO) on realizing the nature and the risks involved in the explorations and drilling venture decided to form an alliance with Emi Explorations International to implement the venture.

Required:

Explain FIVE (5) benefits Gana Oil Company will gain from the CEO’s decision.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Strategy, Oil Exploration, Risk Reduction, Strategic Alliance
Level: Level 1

Topic: Competitive forces and markets
Series: DEC 2023

CSME – May 2024 – L2 – SA – Q2 – Risk Management and Corporate Strategy

Evaluate risk management practices and responsibilities in an oil exploration company.

Question

Required:

a. Explain the meaning, purpose, and importance of risk identification.
(7 Marks)

b. Outline the risk management process.
(8 Marks)

c. Describe the responsibilities of a risk committee.
(5 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Committee Responsibilities, Oil Exploration, Risk Identification, Risk Management Process, Safety Protocols
Level: Level 2

Topic: Risk Management and Corporate Strategy
Series: MAY 2024

BMIS – Dec 2023 – L1 – Q1a – Competitive forces and markets

Explains five benefits of forming a strategic alliance in the oil exploration industry.

Question

Required:

Explain FIVE (5) benefits Gana Oil Company will gain from the CEO’s decision.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Strategy, Oil Exploration, Risk Reduction, Strategic Alliance
Level: Level 1

Topic: Competitive forces and markets
Series: DEC 2023

Question Tag: Oil Exploration

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CSME – May 2024 – L2 – SA – Q2 – Risk Management and Corporate Strategy

Evaluate risk management practices and responsibilities in an oil exploration company.

BMIS – Dec 2023 – L1 – Q1a – Competitive forces and markets

Explains five benefits of forming a strategic alliance in the oil exploration industry.

CSME – May 2024 – L2 – SA – Q2 – Risk Management and Corporate Strategy

Evaluate risk management practices and responsibilities in an oil exploration company.

BMIS – Dec 2023 – L1 – Q1a – Competitive forces and markets

Explains five benefits of forming a strategic alliance in the oil exploration industry.

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Question Tag: Oil Exploration

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CSME – May 2024 – L2 – SA – Q2 – Risk Management and Corporate Strategy

Evaluate risk management practices and responsibilities in an oil exploration company.

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BMIS – Dec 2023 – L1 – Q1a – Competitive forces and markets

Explains five benefits of forming a strategic alliance in the oil exploration industry.

You're reporting an error for "BMIS – Dec 2023 – L1 – Q1a – Competitive forces and markets"

CSME – May 2024 – L2 – SA – Q2 – Risk Management and Corporate Strategy

Evaluate risk management practices and responsibilities in an oil exploration company.

You're reporting an error for "CSME – May 2024 – L2 – SA – Q2 – Risk Management and Corporate Strategy"

BMIS – Dec 2023 – L1 – Q1a – Competitive forces and markets

Explains five benefits of forming a strategic alliance in the oil exploration industry.

You're reporting an error for "BMIS – Dec 2023 – L1 – Q1a – Competitive forces and markets"

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