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Offshore & Upstream Energy Risk Management

Mitigate risks at your facilities

About Offshore and Upstream Energy Hazards

The offshore and upstream energy industries host some of the most complex safety and commercial risks due to their location and catastrophe exposure. While large loss events on oil rigs and similar structures are relatively rare, they do have the potential to generate very high amounts of loss if an event does occur. Some of these risks include:

  • Fire and explosion hazards
  • Safety risks
  • Process safety concerns
  • Electrical risks
  • Market changes
  • Business interruption
  • Loss of income
  • Construction concerns
  • Natural hazards
  • Supply chain risks

Expertise in Mitigating Offshore and Upstream Risks

Due to the volatility of the risks in these industries, it is critical for companies to manage their hazards before a loss occurs. In addition to the experiences gained by working closely with our clients, TÜV SÜD Global Risk Consultants (GRC) staff work to identify the unique hazards and challenges faced within the industry and develop cost effective solutions to manage risk for your company.
TÜV SÜD GRC is familiar with inherent risk associated within the industry and maintains this knowledge through interactions with clients and the practical application of the following offshore standards & practices:

  • American Petroleum Industry (API) Recommended Practices & Standards
  • International Marine Classification Society Standards
  • International Maritime Organization (IMO) - Safety of Life at Sea (SOLAS) Standard and IMO - MODU Code
  • NFPA Marine Standards

A Portfolio of Services for Offshore and Upstream Energy Risks

TÜV SÜD GRC's team of experienced professionals are prepared to work closely with Offshore E&P Operations and Offshore Support Services to provide our clients with customized auditing, fire protection, electrical & mechanical integrity assurance, risk analysis, and risk mitigation consulting services designed to specifically address their specialized needs in the challenging offshore operating environment. This assistance includes but is not limited to the following key areas:

  • Electrical, process, and power generation system equipment integrity assistance
  • Emergency response planning and preparedness assurance
  • SEMS program development, implementation, and assurance auditing
  • Offshore facility operations

TÜV SÜD GRC can also provide clients with the following specialized assistance:

Offshore Fire and Explosion Severity Analysis: GRC has specific software packages that allow us to use different methods to calculate the effects of Vapor Cloud Explosion (VCE) on your operations. We utilize our modeling programs to provide our clients with the flexibility to tailor the VCE calculation to requirements that suit their needs. Our engineers and account managers work with the client to learn more about their unique businesses and needs. Each fire protection program is uniquely tailored to the client’s facilities, safety protocols, employees, and specific industry standards and product compliance needs.

Asset Integrity Management: Asset integrity management (AIM) ensures that the right processes, procedures and tools are in place so that your plant assets function safely, effectively and efficiently at every stage of their lifecycles. Asset integrity management programs are especially relevant in energy, chemical, oil and gas industries to help ensure that employees are working in a safe environment, equipment is optimized for performance and operability, and that equipment and processes are maintained to avoid potential losses and risks.

Business Continuity Planning: Identifying business interruption risk, quantifying the potential impact to your company, developing mitigation strategies, and preplanning for a disaster are the keys to risk management. Our experts will use our knowledge of your company, industry, equipment, production bottlenecks, and exposures as the key components of the BCP process and work to help you foresee and mitigate market and supply chain risks.

Natural Hazards Analysis: Natural hazards are also a key area of concern for offshore and upstream energy clients since some areas that are attractive for pharmaceutical manufacturing are in areas with known earthquake and/or windstorm exposures. TÜV SÜD GRC can not only provide detailed analysis of the exposures but can also offer engineered solutions.

Your Trusted Industry Advisor

TÜV SÜD Global Risk Consultants (GRC) is the leading unbundled property loss control provider worldwide, offering a complete portfolio of risk management solutions, including operational, natural hazard and business continuity planning. With a focus on developing long-term partnerships, TÜV SÜD GRC provides innovative solutions to help our clients continuously reduce the risk to their business.

TÜV SÜD GRC’s approach to providing risk control services incorporates a formal team structure, ensuring established goals are met as well as effectively addressing local and corporate needs.

The team is supervised by an Account Service Leader, who provides a single point of contact, and Technical Account Engineers. The Offshore and Upstream Energy industry is a main area of focus for TÜV SÜD GRC, and developments in this industry are overseen by an internal focus group who are dedicated to providing the best solutions for your business.

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