David Causi
Consulting and analytics risk engineering leader, MEA
In this fourth edition of the risk quality benchmarking study for the Middle East energy industry, Marsh Specialty engineers assess the changes that have happened in the region between 2013 and 2021. Using a proprietary risk ranking system that has been developed and enhanced over the past 30 years, we compare the risk quality of the region against more than 500 energy facilities around the world.
There has been continued improvement in the risk quality of Middle East oil, gas, and petrochemical facilities compared to the global industry. It is particularly notable that in many areas the rate of change in the Middle East region continues to increase, whereas the global industry risk quality is in relative decline.
Since 2020, operators in the Middle East have been more proactive. Measures have been established that allow energy operators to bring in specialised staff for key tasks, reducing the likelihood of postponement in planned general maintenance and turnaround.
The graph below indicates that risk engineering efforts in the region have successfully focused on emergency control management systems, an area where previously Middle East facilities rated behind their peers.
A general improvement in management systems (software) has been observed, compared to previous years, driven by knowledge transfer and digitisation initiatives established by the different companies operating in the region.
Hardware remains a key strength in the region, benefiting from the fact that most refineries and petrochemical sites have an operational history shorter than 15-20 years, with an average of 10-12 years.
Most compellingly, overall scores for global risk ranking quality decreased from 2013 to 2021, whereas the Middle East has seen an increase in risk ranking quality.
Continued investment and improved work processes within the region show a commitment to addressing risk improvement.
Consulting and analytics risk engineering leader, MEA
Risk data analytics specialist