RiskPoynt Selected to Provide Operational Risk Management Software Solution for European-Based Oil and Gas Company, OMV

DENVER, Aug. 2, 2017 /PRNewswire-iReach/ -- The global oil and gas company OMV/OMV Petrom has selected RiskPoynt Barrier Model as their operational risk management solution.

In 2016, OMV was looking for a software package to improve the way they managed upstream operational risks. The specific requirements were for a single Operational Risk Management Application which offered the following functionality:        

  • Manages operational risk and the mitigation of those risks
  • Visualizes the operational health of assets across regions
  • Provides transparent and auditable documentation of an asset's operational risks utilizing multi-language capabilities - allowing for Romanian, Russian, Arabic, German and English translations to be supported simultaneously
  • Identifies and analyzes the initial and residual operational risks
  • Supports quicker and better decision-making with clear realization of risk and assignment of responsibilities
  • Displays interdependencies on safety critical elements
  • Allows prioritization of the most cost-effective risk reduction

With RiskPoynt, the company's asset operators and executives will not only know the current barrier status related to process safety and asset integrity, but also will be equipped to demonstrate in real-time that these risks are being properly managed across the organization.

"We look forward to delivering to a company that shares our dedication to sustainability and safety in this industry," says Bruce Chumley, president of RiskPoynt. "Our top priorities for the oil and gas industry are safety and efficiency. RiskPoynt provides our customers the real-time information they need to collaborate with others, make sound decisions quickly, operate safely and avoid catastrophic events."

OMV and RiskPoynt will begin the first phase of the rollout in 2017 with six upstream operations in Austria, Romania and New Zealand.

About RiskPoynt

The first software to integrate real-time asset telemetry into day-to-day management of operational risks, RiskPoynt translates complex risk assessments for each safety barrier into visual displays that are easy to interpret and act on by people at all levels of your organization, locally and globally. Learn more at www.riskpoynt.com.

About OMV

OMV is an international, integrated oil and gas company, headquartered in Vienna. It is active in the Upstream and Downstream businesses. It produces and markets oil & gas, innovative energy and high-end petrochemical solutions – in a responsible way. With Group sales of EUR 19 billion and a workforce of around 22,500 employees in 2016, OMV is one of Austria's largest listed industrial companies. Learn more at www.omv.com

About OMV Petrom

OMV Petrom S.A. is a Romanian integrated oil company, the largest corporation in Romania and the largest oil and gas producer in Southeast Europe. It is a subsidiary of OMV. Learn more at www.petrom.ro/portal/01/petromro/private

Media Contact: Rachel Brannon, McDonnell Group, Inc., 4045830003 Ext. 107, rachel@themcdonnellgroup.com

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE RiskPoynt

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