Risk Management

Our approach to risk management encompassing seven areas of risk: economic, operational, environmental, financial, legal & regulatory, health, and safety.



We adhere to the principles of documented risk management standards such as:

  • ISO 31000 (a risk management framework)
  • NORSOK Z-013 (Guidelines for Risk and Emergency Preparedness Analysis)
  • ISO 17776 (guidelines on tools and techniques for identification and assessment of hazards)

As per ISO 31000, we adhere to the precepts of:

  • Risk identification
  • Risk analysis
  • Documentation
  • Monitoring and reviewing risk assessment

As per NORSOK Z-013, we engage in our work with respect for the principles of:

  • Establishment and use of risk acceptance criteria
  • Planning, execution and use of risk and emergency preparedness analysis
  • Specific requirements to quantitative risk analysis

As per ISO 17776, our work respects the principles of:

  • Risk Identification
  • Risk Assessment
  • Risk Reduction

For further information on BSI’s guiding risk management principles and policies, contact us or reference our presentation to ADIPEC on the subject: “SPE-161035-PP: Major Accident Prevention and Lessons Learned in Oil & Gas: Four Guidelines and Thirteen Best Practices for Governing Safe Supply Chains.

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