Technical and production risks

Risk of failure of production equipment and facilities due to their limited durability or improper operation

– should this risk materialise, it may result in financial losses due to production stoppages. To effectively manage this risk, we employ a number of measures, including regular overhauls and repairs, and vibration and wear measurements of bearings. We also have certification bodies to perform periodic inspections of the equipment. 

{GRI OG13}

Risks from infrastructure operation, such as the risk of oil spill, sea collision, fire or blowout

– which may cause environmental contamination, death of personnel, downsizing or stoppage of production, and entail significant costs remedying the resulting damage or paying fines. This production-related risk is a function of how well E&P infrastructure is operated, the use of appropriate technical solutions, as well as staff awareness and skills. We therefore take steps to prevent such accidents. Should they nevertheless occur, action plans have been prepared to mitigate their consequences. 

As a result of our approach, no such process safety events as which would meet the criteria specified in the definitions provided by API RP 754 regarding upstream activities were reported in the E&P segment in 2013.