Taking a chance, hide in oil platform (7)
I believe the answer is:
risking
'taking a chance' is the definition.
('risk' can be a synonym of 'take a chance')
'hide in oil platform' is the wordplay.
'hide' becomes 'skin' (a hide is an animal skin).
'in' indicates putting letters inside.
'oil platform' becomes 'rig' (I've seen this in another clue).
'skin' going into 'rig' is 'RISKING'.
(Other definitions for risking that I've seen before include "Hazarding" , "Taking chances" .)