Oil & Gas

World markets, environmental causes and politics all contribute to the uncertainties that oil & gas operations face. In addition to the business risks that are largely introduced by fluctuations in global demand and the corresponding barrel price, the industry is also struggling with operational risks introduced by a dwindling talent pool, isolated pockets of risk management experience, inefficient manual processes, and aging plants and equipment. In addition, many companies have no systems for transforming safety issues into preventative actions, and there is often a lack of visibility into what will impact the business next.

The cost of exploration, drilling and refining continues to rise while regulatory requirements and Sustainable Development initiatives become more stringent, integrated, and expensive – not to mention more visible, both internally and externally, thus putting more pressure on Operations and EH&S groups within the organization. Complying with PSM and environmental regulations like those from OSHA, EPA, ABSA, COMAH, EU and NOHSC is increasingly important and becomes more difficult as operations grow either organically or through acquisition.

An aging workforce further complicates operations when your most knowledgeable employees retire, and the road is paved with less experienced personnel. Exaggerating this problem is the fact that facilities across all business lines are using different methods and descriptions to define and assess risks, and using different systems to document them. This creates isolated pockets of knowledge globally, and a silo approach to knowledge management. All of these factors create a strong business need for strategic Operational Risk Management.

Sharrix provides Operational Risk Management solutions that empower you with a comprehensive view of your risk management priorities and help you create corporate best practices and a way to share lessons learned across your operations. Sharrix helps simplify Process Safety Management (PSM) by providing:

• A consistent corporate standard for all risk management processes, ensuring that risks are identified, measured and mitigated in similar ways and with shared best practices;
• Audit trails to ensure compliance with regional and adopted regulations like OSHA 29 CFR 1910.119, EPA 40 CFR Part 68, Seveso II Directive, COMAH, AS/NZS 4360, MHFs, and Responsible Care;
• A continuous improvement approach to risk management, integrating PHA, JSA and SVA studies with Management of Change, Incident Management and Action Tracking;
• Corporate visibility of risks, aggregate risks, risk management adoption and regulatory compliance across regions, business units, and sites;
• The ability to transform risk management data into key decision making criteria;
• The ability to predict and prevent issues from occurring by uncovering leading and lagging indicators and understanding patterns of risk

Sharrix’s platform is built on the principles of continuous improvement, providing a single enterprise platform to identify, measure, mitigate and communicate operational risks to all stakeholders within an organization. It helps companies to understand risk factors, improve EH&S compliance, integrate risk assessments with other risk management processes, and to mitigate risks using corporate best practices and lessons learned and ensure communication throughout the risk management process.