Middle Eastern energy facilities have strengthened their risk-quality position since 2013, with hardware a particular success story in the region, according to our report, Benchmarking the Middle East Onshore Energy Industry: Strengths and Opportunities of an Energy Superpower.
Marsh’s latest benchmarking report explores key trends in safety and risk management in the region, which, by way of greater understanding, gives readers an opportunity to improve their own risk portfolios.
Key findings include:
- A significant increase in the risk quality of Middle Eastern facilities compared to the global population, and a rate of change that is more than three times faster than for the global population.
- Hardware remains a key strength of the region, reflecting the investment in new projects, but also the investment in asset management and maintenance for existing facilities.
- Evident development in management systems and risk management practices in the region resulting in placing the Middle East into a much stronger position in the upper middle quartile for software systems.
- Considerable improvement in emergency control in the region, moving the region from the lower middle quartile, into a strong position in the upper middle quartile.