The cost of non-compliance within the oil & gas industry grows exponentially each year resulting in the loss of millions.
Policy Assurance Management system includes complex company manuals, internal policies & procedures, regional and regulatory guidelines and processes, a robust verification, risk management and regulatory assurance activities, in line with external regulators, customers and the company QHSE management system. But The numerous audits and verification tasks and workflows are becoming increasingly burdensome, time-consuming and relying on outdated methods.
Statistics highlight that the dedicated audit teams spend 20% doing actual investigations, while the other 80% are spent filling spread sheets and completing reports.
Using cloud computing and data science technologies, Fennex have developed the PAM™ Digital Solution to assist offshore drilling teams at Transocean and Nobel Corporation to drive compliance using more efficient, streamlined and collaborative approach.
The FENNEX PAM™ platform is an innovative cloud-based regulatory technology solution that is designed to fully automate and integrate the end-to-end internal assurance, audit and inspection processes and workflows. Successfully adopted across +55 Offshore Assets worldwide, it has proven to enable teams to prioritise activities and optimise their policy assurance & assets integrity programs.
Noble Corporation HSE Director.
Features & Benefits
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