Improving operational risk and compliance in the energy industry
Overview
There are an average of 1.6 pipeline incidents/day in the US, each one potentially catastrophic, costly and time consuming. Responding to major incidents often results in multiple year impacts to budgets, resources and time in terms of remediation activities. These not only require the need for infrastructure and engineering changes, but also process, training and governance updates, as root cause analysis is performed and stop gaps and preventative measures are put in place.
Outside of the immediate fines and clean-up fees, companies are subject to non-financial penalties such as heavier regulatory pressures (in some cases, loss of license to operate), as well as the associated negative reputation with potential future partners, regulators, and the general public.
Mature R&C organizations seamlessly embed compliance into both their office and field activities
Digitally integrated processes: Critical Information is easy to access and
more automated: R&C systems are faster than paper-based systems and link to other operational systems (e.g. EAM), allowing improved data tracking and facilitation of work across multiple regions.
Developing a strategic vision
Developing a strategic vision accelerates uptake and drives alignment by establishing clear goals including:
- Develop strategic vision and plan deployment
- Align organization and governance
- Standardize and simplify processes and procedures
- Consolidate data and technology solutions
- Embed into the operating culture
