Custom Software Apps & SharePoint Consulting

Neil Duffin says Regulatory Compliance “More Important than Ever”

ExxonMobil Development Company President Neil Duffin spoke at the Rice E&C forum this evening in Houston, Texas, focusing on managing today’s changing regulatory environment and choosing oilfield service companies who share Exxon’s commitment to regulatory compliance.

Duffin noted that while the number of incidents of non-compliance have decreased, the number of high-consequence incidents were alarmingly high and “eye-opening” for his executive team. Because there is a huge gap between the field and the corner office, the executives were shocked when they took a look into the quantitative information around these risk scenarios. He believes that if the energy industry really examines the small number of truly high-consequence activities, and mitigates the risk of such consequences, Oil and Gas can elevate itself as an industry.

The increase in regulatory demands from governments reflects changing societal expectations, in his view, and needs to be a high priority, because a single non-compliance issue can negatively impact the entire industry, even if general trends say that the situation is improving. Duffin emphasized that Exxon is dedicated to making it a daily business priority to prevent regulatory issues from arising.

Mr. Duffin is on-point with his analysis, and we believe it’s because he had ready access to accurate information from the field. Would you like to have data from across your organization at hand? Here at Entrance, we know that mitigating compliance issues has a lot to do with gathering the right information and presenting it compellingly. We strongly believe that if organizations better exploit their information assets, they will be able to produce quantifiable decreases in regulatory compliance risks.

For information about dashboards and portals that enable intelligent decision making to prevent non-compliance from occurring, check out our latest whitepaper.

Share this post with your friends

Skip to content