Authority Compliance and Due Diligence Studies
The extractives industry – which includes oil, gas and mining companies – operates through a complex global supply chain and distribution network that involves domestic and international transport, trading, shipping, ordering, and inventory visibility and control. Due to its large third-party networks that span regions with varying laws, oil and gas companies are highly regulated and need to have a robust due diligence programme to manage and mitigate risks. A poor third-party risk management programme can expose companies in the extractives industry to a number of operational, integrity and ESG risks. This can potentially lead to enforcement actions and reputational damage.
As oil and gas companies and government agencies adapt to evolving global energy markets, effective regulatory compliance management and attraction of international investments are mission critical. Corporate managers must ensure that they are complying with complex oil and gas regulations in multiple jurisdictions and adhering to industry best practices in order to minimize risks, reduce costs and avoid disruption. Government officials seek to attract energy investment while protecting national interests, safeguarding communities and environmental resources from potential risks.
The upstream oil and gas regulatory consulting team at Tohazie SE can help attract international investments into the energy sector as well as manage legal and regulatory compliance challenges and transform them into opportunities for progress – especially during capital intensive development and production phases. Our team of regulatory specialists, Oil and Gas experts, information managers and other experts have deep experience working with leaders from industry and government around the world. We provide:
Understand best practices when opening up sectors and get assistance in the strategic steps forward.
Predict bid round results and analyze bids received from energy companies to better negotiate from a position of strength and knowledge.
Compare assessments and in-depth analysis of oil and gas fiscal systems and regimes against peer groups or develop composite indexes comparing fiscal systems to measure profitability, revenue risk and stability.
Develop, maintain and populate an enterprise compliance solution for country or worldwide operations and gain a competitive advantage; access immediate answers to regulatory questions, reduce risk and manage information throughout the life-cycle of a petroleum investment.
Deliver independent and credible expert witness and arbitration support services; understand what issues are relevant to the case and how they can be best presented; serve as independent experts or assist in formulating strategy, developing analysis and data during the entire discovery and trial process.
A comprehensive, well-documented safety and compliance program is not just an aid in ensuring the company follows regulations. It directly contributes to successful operations, including favorable interactions with regulators, the ability to attract high-quality operators and personnel, and reduced costs from accidents or incidents. By implementing digitizing operating procedures for identifying and anticipating problems Oil and Gas companies improve productivity and performance.
The oil, gas and mining companies in the extractives industry operate in a global supply chain and a complex web of international relationships. Suppliers such as domestic and international transport and service providers are often located in jurisdictions affected by political instability, high levels of corruption and environmental risk. Oil and gas companies must always remain vigilant of heightened risk when entering specific markets and establishing relationships in new territories.
From exploration and production, to refining and marketing in the extractives industry, a thorough knowledge of risk in business relationships is essential. To mitigate reputational damage, loss of export licences and potential litigation under anti-corruption legislation, supply chain and distribution networks must be aware of their third parties and how their products are being used.