Oil and gas companies place safety and the environment amongst their top priorities, according to a survey of more than 100 executives from 90 companies in 21 countries.
The findings were outlined in the Ernst & Young report Business Pulse: Exploring the dual perspectives of the top 10 risks and opportunities in 2013.
E&Y’s global oil and gas advisory leader, Dale Nijoka, said the new data underscored how oil and gas companies had an attitude of zero tolerance for accidents.
Mr Nijoka commented: “The oil and gas industry is undergoing an intense focus on safety and environmental risk preparedness and mitigation,”
“In light of corporate social responsibilities, economic challenges and regulatory pressures, it has become increasingly clear that managing these risks is vital for long-term sustainability.”
The report says compliance is a real challenge for oil and gas companies who are compelled to operate in a variety of regulatory situations.