Introducing TORC Total Operations Risk Managment and Well Operations Solution
TORC is an Enterprise Risk Management platform that provides end to end solutions for all well operations, addressing well integrity, environmental, regulatory and risk assessment and mitigation for the oil and gas industry. Subsequently increasing revenue, reducing costs, environmental impact, improving safety and productivity.
Organize, plan, notify, execute, schedule work, forecast requirements, report, and manage data submissions for all Operators/Service co’s, to the Regulators. TORC will automatically notify all participants in the compliance process, schedule operators’ work/requirements to meet regulations, and seamlessly make available, and submit data on performance to the appropriate regulators.
Key Features
TORC is an Enterprise Risk Management platform
Web Based
Multi-tenant
Integrated with WDMS
Task Based Workflows
GEO-location Capabilities
PPDM Database
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
Regulators Benefits
- Help operators and regulators organize, plan, execute, report, inspect and make informed decisions
- Workflows for all submissions of the respective well operations data to the Regulator through a new digital data submission process
- Improved incident prevention and reporting
- Establishing industry KPIs (key performance indicators)
- Guidance for strategic planning
- Ability to focus on underperforming activities, companies, projects or regions
- Reduce regulatory compliance complexity for the industry
- Reduce operators’ calls to the regulator for interpretations and training
- Cost-effective regulatory compliance
- Enhanced audits as operators compliance records will be readily available and accessible
- Improved data quality upon submission
- Captures all regulatory standards and ensures best practices for service companies as imposed by the operators
- Basis for regulatory compliance continuous improvement
- Enhanced cross-disciplinary information for data access and sharing within operators
- Increased public confidence
- Regulatory excellence and credibility
- Facilitate learning & sharing of Industry and regulators best practices and standards amongst regulators.
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 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
- 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
