The document discusses the meaning, significance, and application of Hazard and Operability (HAZOP) and Hazard Identification (HAZID) studies for oil and gas engineering, procurement, and construction (EPC) pipeline and process facilities projects. It explains that HAZOP and HAZID studies identify hazards in a system and possible incidents in order to reduce risks. They provide a systematic assessment of hazards and result in improved systems, procedures, and safety awareness. The studies are most beneficial when conducted early in the design process or on existing facilities.