The oil and gas company Chrysaor has selected RiskPoynt Barrier Model as their operational risk management solution.
Chrysaor tapped RiskPoynt in 2017 after searching for a software tool to improve their process for managing upstream operational risks. Chrysaor, which will become one of the largest producers of oil and gas in the U.K. after acquiring a package of assets in the U.K. North Sea from Shell U.K., needed a single Operational Risk Management Application which offered the following functionality:
- Manages operational risk and the mitigation of those risks
- Visualizes the operational health of assets across regions
- Identifies and analyzes the initial and residual operational risks
- Supports quicker and better decision-making with clear realization of risk and assignment of responsibilities
- Displays interdependencies on safety critical elements
- Allows prioritization of the most cost-effective risk reduction
Using the visual display dashboard of RiskPoynt’s technological solution, the company’s asset operators and executives will not only know the current barrier status related to process safety and asset integrity, but also will be equipped to demonstrate in real-time that these risks are being properly managed across the organization.
“We look forward to teaming with a company that shares our commitment to continuously improving the industry’s health, safety and environmental performance,” says Tim Perman, CEO of RiskPoynt. “By providing the tools and knowledge to ensure safety and efficiency at their operations, RiskPoynt’s solution empowers companies to shift their work culture from crisis management to risk management.”