Some Steps to Process Safety Excellence in Oil and Gas
Process safety management (PSM) is a key concern for companies operating in the oil and gas industry, with new strategies and ways of dealing with challenges offering potential rewards in many areas.
As well as posing an immediate human and environmental risk, safety incidents can have wider repercussions relating to finance, brand reputation, regulations and the sector as a whole.
These are some steps companies can take to improve their safety management and minimise risk:
* Always Be Looking Forward
A common PSM approach is for companies to log the amount of time since their last incident. However, this may not be the most effective way of preventing an unwanted occurrence in future.
According to the Energy Institute (EI), most well-run organisations can state how many accidents occurred over a certain period in the past, but the "real challenge" is to assess the likelihood of an incident happening tomorrow.
* Manage Data with Care
Major companies operating in the oil and gas and petrochemicals sectors have large teams of staff interacting with one another and different organisations.
This means substantial amounts of data, reams of documents and thousands of pieces of information, which must be managed carefully. An overlooked detail or undetected error could have serious ramifications.
* Remember Two Key Questions
According to the EI, there are two key questions organisations must always consider when trying to improve PSM:
How will we assure the integrity of the operation?
How will we know we are doing it?
The institute warned that starting to answer these questions with the words 'I think' is a telltale sign of uncertainty. To help in this area, the EI offers two resources - a PSM framework covering good industry practice and a survey that allows companies to assess their safety arrangements and performance against the sector as a whole.
Top 10 richest Malaysians in 2014: Malaysia now boasts a total of eighteen billionaires, up from fourteen a year ago! Let's now take a look at the ten of the richest locals in 2014. As many Malaysians are well aware of, our country is going through a period of lows; our currency, the Ringgit, is weakening, we are experiencing a slowing economy and a lackluster stock market. All these come together to affect those who are earning a regular salary. But all of it is probably nothing more than an extra shrug from the guys on this list – if at all. In fact, some of those on the Forbes’ Malaysia’s Richest Tycoon list (ie the richest Malaysians, as of March 2014) have seen their fortunes increase as well, due to shrewd business decisions (amongst other things) despite economic conditions. Malaysia now boasts a total of eighteen billionaires, up from fourteen a year ago! Let’s now take a look at the ten of the richest locals in 2014. Source: Forbes’ Malaysia’s 50 Richest List Number 10: ...
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