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The Cost of Failure in the Oil and Gas Industry: How much is too much?

May 31, 2017

Originally posted on ARC Advisory Group It is times like these that identifying operational risk is more important than ever for the oil and gas industry. According to the EIA, safety incidents go up in the years following a downturn. As the figure below illustrates, after oil prices dropped from 2000 to 2002, a 6...

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Events, News

OPEX Houston Recap

November 15, 2016

RiskPoynt and 200 of our friends held a two-day Operational Excellence in Oil & Gas “party” last week in Houston. We realize in this low $/barrel era that many travel budgets are getting cut so in case you missed OPEX, I’ll recap some of the highlights. The theme this year, “Driving out cost, risk and...

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Case Studies

BG Group – Demonstrating Control

July 26, 2016

The UK portion of the North West Europe Continental Shelf is a harsh environment in which to explore for and produce oil and gas. In that environment BG Group (now part of Royal Dutch Shell) has learned to expect the unexpected and to respond effectively to “abnormal” situations. Anything from a minor upset that affects operations, to...

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Case Studies

The Effect of Personnel Changes on Cumulative Risk

July 26, 2016

Tullow Oil has learned to expect the unexpected, and to respond effectively to “abnormal” situations. An abnormal situation is something other than the “steady state” condition; it could be anything from a minor upset that affects operations, to a temporary loss of logistics support or even the identified impairment of some safety-critical element. Operators prime consideration in any abnormal situation is to avoid any increased risk to safety. This is the basis for using operational...

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Events, News

RiskPoynt at 6th Annual EMEA Summit Operational Excellence in Oil & Gas

July 15, 2016

Come join us at the Operational Excellence Summit in London where RiskPoynt will be hosting a panel discussion:  Reducing operational risk and maintaining asset integrity in a low $/ barrel environment. This highly anticipated panel discussion will provide insight into how two of EMEA’s largest production companies are reducing operational risk with the management of...

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News

Changes to Insurance – UK 3rd May 2016

Michael MostertMay 11, 2016

Recent announcements in the press have indicated that the terms of the insurance policies, governed by an Act over 100 years old, are about to change. The impact this change will have on E&P companies is obvious when reviewing the new law. It states that what an insurance buyer knows about risks to the business...

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Events, News

RiskPoynt at OTC Houston 2nd to 5th May 2016

Offshore Technology Conference Logo
Michael MostertMay 11, 2016

In Houston last week, our team found the common message from industry was do more with less by increasing efficiencies while ensuring safe operations. Focus was also on standardization across suppliers and encouragement of E&P companies to collaborate and share resources in a downturned market. We were fortunate to be on the ground for the...

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News

Introducing a New Way to Manage Operational Risk

oil-rig-platform
Michael MostertApril 7, 2016

TPSCO has created a cloud deployed asset integrity visualization model, complete with integrated risk register called RiskPoynt. RiskPoynt uses a barrier model display technique to convey the risk profile of a given site. This concept has been around since the early 90s, and creates a clear representation of how performance standards are preventing a major...

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