Making sense of a new risk concept in the Norwegian petroleum regulations

Abstract

In the 2015 petroleum regulations update, the Norwegian Petroleum Safety Authority (PSA-N) modified the risk definition, by highlighting uncertainty instead of probability as one of the core components of risk. Although much work has been conducted on how to assess and manage risk using an uncertainty-based risk perspective, the specific implications of such a risk perspective for a regulatory context have not been given equally attention. The paper seeks to bring new insights to this issue, by examining the extent of change in the PSA-N regulatory practices and strategies as a result of the new risk perspective, as well as identifying factors influencing the implementation processes within the organization. A sensemaking framework provides the foundation for the discussion.