TORC Total Operations Risk And Control
Remain competitive, operate lean, and address Environmental, Social and Governance (ESG) with TORC. TORC is an operational risk management platform that provides a 360-degree view of all well operations with workflow, database and reporting functions addressing:
Well Integrity
Liability
Environmental
Risk Management
Regulatory Compliance
Web based
Web based cloud-based system that enables instant communication between many people (office users, field users, 3rd party service providers)
Organized workflow
Structured workflow and business process for all stages of the well lifecycle that ensures:
a. Compliance and audit documentation
b. Activities don’t get missed or slip through
the cracks
a. Compliance and audit documentation
b. Activities don’t get missed or slip through
the cracks
Structured database
Structured database provides permanent records throughout well life cycle that can be used for future analytics, AI and machine learning
TORC DELIVERS KEY FEATURES AND BENEFITS
Monitor multiple wells simultaneously using a single interactive interface that combines data from all sources.
Receive alerts when it matters by setting basic or condition-based alarms that deliver instantaneous notifications to global users
Use an intuitive interface that minimizes the effort to manage data sets and enables creating custom workspaces.
Reach maximum operational performance and team productivity by automating hundreds of real-time calculations and tasks.
Manages regulatory data submissions for all wells.
24/7 visibility by all shareholders.
Better decision making with timeliness availability of important data.
Best practices and consistent standards for data collection and reporting of information by vendors.
Automated processes reduce knowledge loss risks, including delays in re-training. Ensures better business continuity when experienced staff retire or become unavailable.
TORC is integrated with WMNG and can be integrated with other systems to help reduce data entry.
TORC dashboard improves management and planning of engineering and regulatory staff workload.
Dashboard shows all tasks to be done, completed, not assigned, overdue, pending, etc.
Ensures regulatory compliance through data validation, alerts, and status notices.
Compliance and audit documentation
Performance
The application will support the Oil & Gas Upstream industry throughout its entire Life Cycle: Mobilization, Drilling, Completion, Production, Interventions, Maintenance, Recompletions, Re-purposing, Suspension, and Abandonment. Manage all aspects of the Well Operations and Well License Applications and from a regulatory compliance perspective.
- Well Life Cycle Asset Management
- Well Life Cycle Integrity Management
- Risk Management Environmental Management
- Compliance Management
- Liability Management
- Higher Rate of Return (ROR) on Investments
- Reduced Failures and Unplanned Repairs / Maintenance
- Increased Shareholder and Stakeholder Value
- Enhanced Industry Leadership
OPERATORS BENEFITS
- Organize, plan, execute, report, inspect and make informed decisions
- Manage all critical well operations from any location
- One common regulatory reporting solutions for all operators
- High-quality data to provide more cost-effective, enhanced solutions with better outcomes
- Improved incident prevention and reporting
- Well life cycle risk management
- One solution to report to all regulators worldwide
- Focus on underperforming assets
- Incident prevention
- No production interruptions or wells shut-in due to failures or blowouts
- Reducing risk and continuous improvement for well operations
- Better records and more accurate analysis leading to better decisions
- Reduce risk of fines & penalties
- Real-time efficient reporting
- Improved KPI generation
- Endless Operational efficiencies
Benefits
Organize, plan, execute, report, inspect and make informed decisions
Manage all critical well operations from any location
One common regulatory reporting solutions for all operators
High quality data to provide more cost effective, enhanced solutions with better outcomes
Improved incident prevention and reporting
Well life cycle risk management
One solution to report to all regulators world wide
Focus on underperforming assets
Prioritize activities on critical tasks
Improved strategic planning and execution
Faster approvals of work activities by the regulator
Increased optics to buyers and sellers of your assets
Efficiently track inventory equipment
Evaluate noncompliance trends, and identify opportunities for improvement
