A report on bulk liquid storage tanks at Naval Point, Lyttelton says there is less risk than being bowled by a rock on Port Hills or having a car accident.
The analysis is aimed at improving safety and helping make a decision about a cruise ship berth and recreational facilities.
It assumes a location for a cruise ship berth on the seaward side of the reclaimed land which makes up the tank farm.
The report highlights how there is only one road in and out of the Naval Point area, and says some sections of the road are at greater risk.
As a result the Christchurch City Council is considering no parking signs on nearby roads to reduce the time people might spend in higher risk areas.
It is also identifying an emergency evacuation point, council head of planning and strategic transport, Richard Osborne, said.
The bulk liquid storage tanks at Naval Point store petroleum products for supply to outlets and businesses throughout the South Island.
The requirement for the risk analysis of the area was identified last year through the Lyttelton Port recovery plan process which addressed a council directive to look at options for a dedicated cruise ship berth facility, and funding for it.
The analysis includes potential effects on a cruise ship terminal, a Dampier Bay marina development , and a proposed hazardous substances wharf east of the tank farm within the harbour.
It also considers effects on recreational boating, and the Brittan Tce residential area at the top of the cliff overlooking Naval Point.
The analysis is based on a person standing at the site 24 hours a day seven days a week.
It was carried out by Sherpa Consulting, but results will not be recorded on land titles.
New health and safety legislation also requires the oil companies which own the tanks to prepare safety assessments by April 2018 to minimise or eliminate risks.