Policy Assurance Management: Case Study
DIGITAL SOLUTION PAM™
A cloud-based digital platform to drive regulatory and policy compliance.
AT A GLANCE
Who: Global Offshore Drilling Contractors
Scope: Cloud-based organisation-wide digital platform to manage audits, inspection and
verification processes for leading deep-water offshore drilling contractors.
PAM™ is proven to raise policy awareness, drive compliance and reduce risks.
Each year, non-compliance can cost several millions to companies within the oil and gas industry. As such, effective company management systems are essential to the compliance process.
A robust Policy Assurance Management system drives good practises in the compliance process. However, the continuous increase in regulatory requirements and the rapid change in business practises have greatly highlighted the need for a more efficient approach towards managing compliance.
Using Microsoft cloud computing technology, Fennex has developed the PAM™ digital solution to assist regulatory and policy requirements and achieve greater optimal performance.
Many oil and gas organisations operating on a global scale face the challenge of effectively managing the complex and high-risk compliance assurance process with existing methods.
Policy Assurance Management systems include complex company manuals, internal policies and procedures, regional/regulatory guidelines and processes, robust verifications, risk management and regulatory assurance activities; in line with the external regulators, customers and the company QHSE management system.
The numerous audits and verification tasks and workflows are becoming increasingly burdensome, time-consuming and reliant on outdated paper-based management, which includes reports and spreadsheets which are stored and shared for updates when needed.
Initial statistics highlighted that audit teams dedicate only 20% of their efforts towards actual investigations whilst 80% is afforded to the completion of spreadsheets and reports. These methods are not only inefficient and resource-intensive, they are error-prone and incapable of adapting to the ever changing landscape of regulatory requirements.
The Fennex team partnered with two key international players in the offshore drilling industry – Noble Corporation and Transocean, to leverage the use of advanced cloud computing applications and introduce the Regulatory Technology (RegTech) type solution for transparent, faster and more efficient methods to manage operations assurance activities across the entire organisation.
The Fennex PAM™ solution fully digitised and automated the end-to-end processes that govern audits, inspection and verification workflows and requirements.
Using a technology stack including Microsoft Azure, Sharepoint, SQL, PowerBi and mobile App technologies, the digital platform is tailored to the organisation’s unique business process, fully aligning to the internal policy assurance and quality management systems, with real-time integration within the company’s own digital ecosystem.
Transparent, collaborative and live visual dashboards are accessible online, allowing ease of monitoring, evaluation and reporting of vast amounts of information with greater efficiency to aid decision making.
A key factor in the wide adoption is the use of mobile devices accessed via in-built bespoke Apps, allowing users to work offline with advanced dictation and photo capabilities.
The automation of manual processes has reduced errors, enabling teams to gain quicker access to accurate, consolidated data for far greater insights.
Following successful adoption of the PAM™ across 55 + offshore assets, the teams were able to prioritise activities and optimise their policy assurance and assets integrity programs. By removing complexity and enhancing clarity, most complex and critical regulator verifications are executed with greater efficiency. This has been especially beneficial for rig reactivations, well control audits and high-risk operations such as HPHT and MPD drilling.
The PAM™ solution was found to increase productivity by 40%, in addition to delivering the following benefits:
Transparency and simplicity.
Policy awareness and knowledge improvement.
Data driven analytic enhanced policies and verifications.
Evidence/history of compliance.
The real-time data, digital reports, trends and analysis from the PAM™ system mean we are able to improve and get ahead of issues before they become lagging indicators.”