POLICY ASSURANCE MANAGEMENT
Cloud RegTech solution to digitize and automate policy assurance management systems, removing complexity and driving compliance in the oil and gas sector
The cost of non-compliance within the oil and gas industry grows exponentially each year resulting in the loss of millions.
Our Policy Assurance Management (PAM) system includes complex company manuals, internal policies and procedures, regional and regulatory guidelines and processes, 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audits and verification tasks and workflows are becoming increasingly burdensome, time-consuming and relying on outdated methods.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 dedicated audit teams spend 20% doing actual investigations, while the other 80% is 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 a more efficient, streamlined and
Our 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
over 55 offshore assets worldwide, it has enabled teams to prioritise activities and optimise their policy assurance and
assets integrity programs.
• Increase productivity by 40%
• Decrease errors
• Drive compliance
“The data, digital reports, trends and analysis from the real-time system means we are able to improve and get ahead of issues before they become lagging indicators.” Noble Corporation HSE Director