Challenges faced by the Oil and Gas industry

The Oil & Gas industry requires comprehensive risk management strategies. Beyond the trading risks of oil price fluctuations, exchange rate variations and governmental policy changes, the industry has to contend with potential environmental impacts, and significant safety and health risks to employees and contractors. In addition, managing social risk has become a key focus area, lest the operation lose its social licence to operate. While the impact of many risks cuts across disciplines such as environmental, health, safety or social, these disciplines are often managed in siloes, making an holistic understanding of risk indicators and consequences difficult. There is also within the industry a tendency to focus on lagging indicators rather than leading.

IsoMetrix Value Drivers

Ensuring compliance against a raft of obligations, from permits and licences through to legislation in foreign jurisdictions is critical to effective risk management in the Oil & Gas industry . By providing a centralised Governance Risk and Compliance solution for Oil & Gas, IsoMetrix enables companies to closely monitor leading indicators, and to be forewarned of potential incidents. The risk-based architecture of IsoMetrix allows risks to be assessed across all disciplines, and re-evaluated as incidents eventualize. The breadth of the solution allows Oil & Gas companies to go beyond managing EHS, including related areas such as Enterprise Risk, Compliance, Quality, Stakeholder Engagement, Resettlement, Socio-economic Development and Business Continuity Management.

Compliance Management and Legal Register

The IsoMetrix Compliance Management software solution provides you with a central platform for integrated risk management that seamlessly integrates with other IsoMetrix solutions such as ERM, HSE, and Social Sustainability.

Environment, Health & Safety (EHS) Management

The IsoMetrix Health, Safety and Environmental Management solution seamlessly combines different health, safety and environmental processes, giving you a single, comprehensive, integrated management solution.

Environmental Sustainability Management

Reduce environmental incidents and risks and safeguard your organization’s reputation.

Social License to Operate (SLO) Management

Develop and maintain your mine’s Social License to Operate with the IsoMetrix Social License to Operate Management solution.

Social Sustainability

Manage your social environment and drive operational performance improvement with the IsoMetrix Social Sustainability solution