Improving Management of Potentially Catastrophic Risks

In the Oil & Gas Industry

Recent catastrophic events show that, despite carefully planned and implemented risk management, the impact of residual risks can present significant damage to an Oil & Gas company’s balance sheet. Amongst other initiatives, this has turned industry attention to the assessment of Exposure to Risk (EtR) – the concept of the maximum potential economic loss associated with catastrophic risk. Such focus provides a basis for strengthening of arrangements – from Strategy through Process and Organization to Methodologies and Tools, providing benefit to long-term stability of the balance sheet.

Released: June 2010

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