How to Ensure Regulatory Compliance and Effective Safety Management for Oil and Gas Companies?

The Oil and Gas industry is growing but at the same time increases in Oil and Gas activity correlate with an increase in the rate of fatal occupational injuries, particularly when inexperienced workers are not sufficiently trained in safety and precautionary measures.

In addition, Oil and Gas companies also face unprecedented regulatory pressures –organizations are faced with the challenge of effectively managing their OSHA, BSEE, USCG, DOT, EPA, Conflict Minerals, NI-52109, COBIT, ISO and compliance mandates such as Extractive Industries Transparency Initiative (EITI), Amendments to EU Directives, Dodd-Frank Act Section 1504, SEC Rule 13(q), SOX, FCPA and other compliance programs based on federal and state regulations.

The cost of noncompliance and its effect on the business requires oil and gas companies to rethink their approach to regulatory compliance and safety management. Companies now need tools that allow them to respond with agility to market demands while keeping them in compliance and subsequently reducing exposure to noncompliance and safety risk.

How we can help?

360factors helps Oil and Gas companies navigate their way through a changing regulatory environment, manage risk and improve safety performance to increase operational excellence, sustainability and margins. Our regulatory risk and compliance management solution breaks down silos and reduces costs incurred by multiple installations, minimizing the complexity for functional departments and compliance initiatives.

Predict360 Process Safety Management enables organizations to collect, store, track and collaborate on compliance-related incidents. It has a built-in investigation feature that is mapped back to the incident, streamlining your corrective and preventive actions (CAPA). Our software is capable of automating process safety management so organizations are able to address potential risks at any organizational level. With Predict360, you will be able to:

• • Assign tasks, track and catalog operational risk through task management.
  • Respond to incidents in a timely manner through reminders and escalations sent directly to your email.
  • Track the status of incident investigations at multiple sites.
  • Protect your people, operations and immediate community.
  • Minimize losses, prioritize risks and implement corrective actions.
  • Comply efficiently with regulatory requirements and industry best practice.

About the Company

360factors, Inc. is an enterprise risk and compliance management technology and services company that helps companies improve business performance by reducing risk and ensuring compliance. Predict360, its flagship software product, vertically integrates regulations and requirements, policies and procedures, risks and controls, audit and inspections, safety management systems and on-line training and qualifications, in a single cloud-based platform.

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