scholarly journals Strategies for Risk Management and Corporate Social Responsibility for Oil and Gas Companies in Emerging Markets

2016 ◽  
Author(s):  
Stephanie Stimpson ◽  
Jay Todesco ◽  
Amy Maginley
Keyword(s):  
Risk Management ◽  
Emerging Markets ◽  
Oil And Gas ◽  
New Technologies ◽  
Mitigation Strategies ◽  
Risk Area ◽  
Resource Base ◽  
Legal Risk ◽  
Risk Areas ◽  
Oil And Gas Companies

Oil and gas companies are constantly in search of opportunities to expand their resource base and create value. Emerging markets can provide companies with opportunities for significant rewards, especially in regions where oil and gas resources may be underdeveloped and where new technologies have not yet been exploited. However, emerging markets also pose numerous challenges and risks, which can potentially lead to significant legal and reputational damage. This article explores key legal risk areas for oil and gas companies in emerging markets and best practices for managing those risks and operating in a socially responsible way, recognizing that risk management centers around controlled and reasoned decision-making, not eliminating risk. The article is intended to provide a high-level overview of the key legal risk areas and mitigation strategies to serve as a guide for directors and management teams operating in these challenging regions as opposed to providing a comprehensive discussion on any particular risk area.

Retrospective Analysis of Geological Exploration 2010 - 2020

2021 ◽  
Author(s):  
Pavel Mostovoy ◽  
Ildar Safarov ◽  
Evgeniy Tumanov ◽  
Maria Zaytseva ◽  
Maksim Aksenov ◽  
...  
Keyword(s):  
Retrospective Analysis ◽  
Oil And Gas ◽  
The Other ◽  
Geological Exploration ◽  
Resource Base ◽  
Success Stories ◽  
Future Production ◽  
Geological Complexity ◽  
Oil And Gas Companies ◽  
Exploration Activity

Abstract Oil and gas companies’ future production profile is shaped by their exploration strategy and resource base development. Gazprom Neft's production profile will include 40% of current exploration projects by 2030. Geological exploration, on the other hand, is a high-risk business because it involves a lot of uncertainty due to the geological complexity of the targets being explored, as well as a lot of risky capital. Taking these factors into account, the Company will need to expand its exploration function as well as its approaches to managing exploration projects in order to meet its lofty aims. To determine the key areas of growth and a strategy for the exploration function development in the coming years, it was decided to first analyze the geological exploration activity in the Company in 2010 – 2020 period. The knowledge of achievements, success stories, and development areas is the fulcrum for future victories. Therefore, retrospective analysis is an important tool for the development of any system of activity - individual, organization, or state.

scholarly journals Risk management system model to improve the reputation of oil and gas companies in the Java island - Indonesia

2019 ◽  
Vol 276 ◽  
pp. 02014
Author(s):  
Nevila Rodhi Nova ◽  
I Putu Artama Wiguna ◽  
Anwar Nadjadji
Keyword(s):  
Sustainable Development ◽  
Risk Management ◽  
Management System ◽  
Oil And Gas ◽  
Negative Impact ◽  
Risk Management System ◽  
Preventive Method ◽  
Iso 31000 ◽  
Social Environmental ◽  
Oil And Gas Companies

Risk management has been widely studied and applied in oil and gas pipeline projects, but the reality is that the impacts still occur. This is due to the ineffectiveness of existing risk management applications, so of course in this case an effective risk management system is needed, in which risk management must pay attention to all aspects that exist, both internal aspects, external aspects, and other aspects that can affect and influenced by existing risks and risk management not only can be used as a preventive method. But it can also support sustainable development targets. This paper presents the application of risk management by oil and gas companies in Indonesia that has been adapted to ISO 31000:2009 as a framework that can integrate various other management processes, including the management of HSE (Health, Safety, and Environment) risk in the hope of that sustainable development can be achieved . But in the reality it can not be denied that the activities that continue to this day still cause negative impact, especially for the environment. International oil and gas companies nowadays place more emphasis on preventive measures than the methods of mitigation. Thus it shows that the concept of sustainable development has not been fully considered in risk management applications. The existence of a continuous negative impact would greatly affect the credibility of oil and gas companies. Based on the results of research conducted with the hybrid method and analyzed with the help of System Dynamics it can be concluded that there are 3 (three) factors that can affect reputation risk, these factors are social, environmental, and economic and the model built in this study shows that it will can help the oil and gas company players to predict and improve the company’s reputation.

scholarly journals Generalization of scientific and institutional prerequisites for risk management of technological integration

2021 ◽  
Vol 6 (2) ◽  
pp. 130-138
Author(s):  
A. E. Miller ◽  
◽  
L. M. Davidenko ◽  
Keyword(s):  
Risk Management ◽  
Oil And Gas ◽  
New Technologies ◽  
Environmental Safety ◽  
Financial Economic ◽  
Management Control ◽  
Pure Hydrogen ◽  
Management Tools ◽  
Positive Vector ◽  
Technological Integration

The paper considers the key aspects of risk management in relation to the technological integration of economic entities. It is emphasized that the deepening of the technological chain includes the integration of resources of related production facilities and is undergoing changes in the context of accelerated digitalization, environmental transformation of the world economy. In this regard, the risk management system, which includes strategic mapping, systematization and risk assessment, as well as management control over financial, economic, scientific and technological types of risk, is of great importance. The authors highlight the trends of technological transformation of the global energy complex, which determine the promising directions of technological integration of the oil and gas sector for the development of carbon-neutral energy. As a positive vector, the development and implementation of innovations that improve environmental safety, as well as new technologies for the production of pure hydrogen from natural gas and recycling processes are shown. The conducted research allowed us to identify the scientific and institutional prerequisites for managing the risks of technological integration and to link them with risk management tools

scholarly journals ORGANIZATION OF RISK-MANAGEMENT IN EQUINOR ASA

2021 ◽  
Vol 2 (7(71)) ◽  
pp. 56-60
Author(s):  
O. Degtyareva
Keyword(s):  
Risk Management ◽  
Oil And Gas ◽  
Price Volatility ◽  
Enterprise Risk Management ◽  
High Price ◽  
Special Importance ◽  
Analysis And Evaluation ◽  
Enterprise Risk ◽  
Risk Appetite ◽  
Oil And Gas Companies

The article reveals modern approaches to enterprise risk management based on the introduction of ERM (enterprise risk management) system, aimed at the integration of all types of risks in the company's strategy and the transition from protection from negative situations to the concept of risk appetite. The special importance of risk management for oil and gas companies in the conditions of global instability and high price volatility is emphasized. The author analyzes the experience of the Norwegian oil and gas company Equinor in the development and implementation of ERM, changes in the organization of risk management and methods of analysis and evaluation.

Using model form contracts in the Australian oil and gas industry

2011 ◽  
Vol 51 (1) ◽  
pp. 535
Author(s):  
Andrew Thompson
Keyword(s):  
Risk Management ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Legal Risk ◽  
Model Form ◽  
Australian Context

The adoption of model form contracts makes good business and legal risk management sense. In an Australian context there are a number of model form contracts available for each phase of an oil and gas project. This paper focuses on a few key examples including the Association of International Petroleum Negotiators (AIPN) Model Form Farmout Agreement and related Term Sheet, and the AIPN Model Form International Operating Agreement. Recent statutory changes, world events and practical drafting trends affecting the use of model form contracts also are commented on.

Improving Offshore Platform Production With Artificial Intelligence

2021 ◽  
Author(s):  
Philippe Herve
Keyword(s):  
Artificial Intelligence ◽  
Carbon Emissions ◽  
Oil And Gas ◽  
New Technologies ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Carbon Neutrality ◽  
Oil And Gas Companies ◽  
Oil And Gas Sector

Abstract The oil and gas sector is facing a changing market with new pressures to which it must learn to adapt. One of the biggest changes in expectations is the increased focus being placed on carbon emissions. Many consumers, investors, and lawmakers see reforms to the oil and gas industry as one of the most important avenues toward reducing carbon emissions and curbing climate change, and accordingly, a large number of companies have already made ambitious pledges towards carbon neutrality. New technologies may offer the best avenue for oil and gas companies to reduce their carbon emissions and meet those neutrality goals. Digital technologies—and in particular, artificial intelligence—can aid in decarbonization even with relatively small investments, primarily by enabling large increases in efficiency and reducing unscheduled downtime and the need for flaring. This paper discusses how artificial intelligence-powered predictive maintenance can be applied to reduce carbon emissions, and a case study illustrating a real-world deployment of this technology.

scholarly journals Multicriteria optimization of oil and gas enterprises financial stability using the genetic algorithm method

2021 ◽  
Vol 107 ◽  
pp. 06005
Author(s):  
Marta Shkvaryliuk ◽  
Liliana Horal ◽  
Inesa Khvostina ◽  
Natalia Yashcheritsyna ◽  
Vira Shiyko
Keyword(s):  
Genetic Algorithm ◽  
Risk Management ◽  
Financial Stability ◽  
Oil And Gas ◽  
Financial Indicators ◽  
Management Efficiency ◽  
Financial Condition ◽  
Genetic Algorithm Method ◽  
Oil And Gas Companies ◽  
Integral Indicator

The article considers the problem of optimizing the financial condition of oil and gas companies. The offered methods of optimization of a financial condition by scientists from different countries are investigated. It is determined that the financial condition of the enterprise depends on the effectiveness of the risk management system of enterprises. It is proved that the enterprises of the oil and gas complex need to develop a system for risk management to ensure the appropriate financial condition. The financial condition is estimated according to the system of certain financial indicators, the integrated indicator of financial condition assessment is constructed using the method of taxonomy. According to the results of the calculation of the integrated indicator, it is concluded that this indicator does not have a stable trend. On the basis of the conducted researches it is offered to carry out optimization of an integral indicator of a financial condition with use of genetic algorithm in the Matlab environment. Based on the obtained results, recommendations of the management of the researched enterprises on increase of management efficiency are given.

scholarly journals Risk Mitigation Strategy and Efficiency Improvement of PT Gasses Logistic Transportation using Six Sigma DMAIC Method

2021 ◽  
Vol 04 (12) ◽  
Author(s):  
Ramadytio Fadhli Prayogio ◽  
Keyword(s):  
Risk Management ◽  
Six Sigma ◽  
Oil And Gas ◽  
Risk Mitigation ◽  
Oil And Gas Industry ◽  
Mitigation Strategies ◽  
Pareto Chart ◽  
Management Framework ◽  
Risk Management Framework ◽  
Dmaic Method

PT Gasses Logistic is one of the companies that operates in the downstream oil and gas industry that focuses on providing logistic services and other support. From oil, gasses, to lubricant, together with their partnership, PT Gasses Logistic are responsible of transporting those goods to their consumers across Indonesia. Also, PT Gasses Logistic is the subsidiary/child company from one of the biggest state-owned enterprises in Indonesia. The core business of PT Gasses Logistic is transportation, that is why every type of problem in transportation needed to be solved quickly. Through this research, it is identified 4 problems by using Pareto Chart. The problems are work & traffic accident, losses while loading & unloading operation, risk in damaging MESRAN MIN 40, and risk in damaging RORED EPA MIN 90. Those problems will be evaluated with risk management framework and analyse further using Six Sigma DMAIC method. Risk management framework will be used to identify the risk rating for each risk, which will be used when planning the mitigation strategies. Six Sigma DMAIC method will identified what is the problem, how it the performance regarding the process related to the problem, what is the root causes, how to improve it, and how to control it. After using the risk management framework and Six Sigma DMAIC method, it is found that the root causes of the problems, which is identified by using fishbone diagram tools, is People and Machine. The author then provided the risk mitigation strategies solution of improvement, the implementation plan, and how to control it. With this research, the author hopes that it will help reducing/mitigating any losses received by PT Gasses Logistic incurred by those problems.

Sign in / Sign up

Export Citation Format

Share Document