Safety & Operational Risk Assurance Benchmarking - Oil & Gas

For over 24 years, Fulcrium's benchmarking has helped Safety & Operational Risk Assurance group functions within Oil & Gas to design and drive transformative, best-in-class agendas.

Over a 24-year period, Fulcrium has completed 18 benchmarking initiatives for Oil & Gas Safety & Operational Risk Assurance functions

For 24 years, Fulcrium benchmarking has been assisting frontline and second line assurance organisations to transform their Strategy, Vision, Purpose and Performance so they can future-proof the S&ORA function.

Since the 1960s the global oil and chemical sectors have led the way in process safety management. Our expertise in Oil & Gas Safety & Operational Risk Assurance Benchmarking over more than two decades has been developed primarily in this sector and is, we believe, best-in-class.

Other complex industries have similar hazard profiles to oil, gas and chemical, including pharmaceutical, explosives, mining, nuclear, engineering and transport.

Despite widespread adoption of safety management systems, major incidents continue to occur, albeit at very low frequency.

When they do, their impact is substantial: fatalities and serious injuries, and damage to the environment, company reputations, assets and operating capabilities.

Supermajor Partners with Fulcrium for Safety & Operational Risk Assurance Benchmarking

Fulcrium was appointed by the in-house specialist assurance function accountable for second line Safety & Operational Risk Assurance at a Supermajor.

The brief was to undertake a wide-ranging benchmarking engagement comparing the frontline and second line strategy, systems, processes, organisation, risk, policies, standards, governance and assurance activities of the function with those of peers at IOCs, NOCs and service companies.

Part of the brief was to provide tangible evidence of what constituted a world class Safety & Operational Risk Assurance function and how such insights could translate into transformational value for the function in its support of Drilling & Completions, Reservoir & Wells, Major Projects and Operations & HSSE.  Fulcrium was also required to assist the client with a renewed vision and roadmap to transform the function.

The Client’s Verdict:

Following an extensive evaluation of the benchmarking market for Safety & Operational Risk Assurance providers, we appointed Fulcrium to conduct benchmarking and assist us with our thinking to future-proof our organisation.

No benchmarking firm that we encountered can match it for extent of reliable data, methodology or, more importantly, for Safety & Operational Risk Assurance domain specificity in the upstream and downstream oil and gas industry.

Fulcrium brought extensive. high quality data that informed genuinely new and impactful insights which have helped us shape our Safety & Operational Risk Assurance function.

Fulcrium's benchmarking helps future-proof S&ORA functions by Transforming their Strategy, Vision, Purpose and Organisation

We assist the world’s largest hazard sector companies, with board-level outputs from our benchmarking

For 24 years, Fulcrium benchmarking has been assisting frontline and second line assurance organisations to transform their strategy, vision, purpose and performance so they can achieve best-in-class excellence.

Are you 100% sure that your major hazard process risks are effectively controlled by your frontline, second line and third line, or are you concerned that you rely on failure data and are not sufficiently proactive?

Our proprietary benchmarking pinpoints Safety & Operational Risks Assurance opportunities during all stages, and proposes any required mitigation options. In several cases, this has resulted in dramatic improvements in optimising operating conditions in addition to improvements in risk control and quality systems. 

Major incidents rarely result from a single cause but rather by multiple failures that coincide and collectively result in an exceptional event with severe consequences.

We benchmark against industry best practice in the same or different high hazard sectors, regionally and globally, to deliver:

INEOS Chemicals Chairman Sir Jim Ratcliffe talks to Fulcrium about Benchmarking-Driven Exceptional Performance

INEOS Chemicals founder and Chairman, Sir Jim Ratcliffe discusses:

For best-in-class Safety and Operational Risk Assurance Benchmarking to fulfil the goal of strategic, organisational and functional excellence contact us today.

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