Aligning Operational and Strategic Risk for an Integrated Oil & Gas Operator

Operating Environment

An integrated petroleum operator managing exploration, production, refining, and fuel supply in a capital-intensive, safety-critical environment.

The Challenge

Operational risks were documented but not aligned to strategic objectives or financial exposure.

• Production and corporate risks recorded separately
• Asset rehabilitation risk lacked structured mitigation tracking
• Board reporting focused on incidents, not structural exposure

Strategic & Operational Risk Workshops

KRS facilitated structured risk workshops across operations and corporate leadership using Dimeri.

• Oil price collapse scenarios
• Production interruption modelling
• Refinery shutdown events
• Asset rehabilitation delays
• Environmental compliance exposure

Risk Register Development

The enterprise risk register was redesigned using Cause–Event–Impact formulation, integrating operational, financial, and compliance risks into a single structure.

Control & Mitigation Review

Control balance and design effectiveness were assessed across the organisation.

• Preventive vs detective control balance evaluated
• Maintenance and safety control design reviewed
• Duplicated compliance controls removed
• Mitigation timelines and ownership formalised

Executive Reporting

Formal strategic risk reports and executive summaries were produced and presented to senior leadership.

Outcomes Achieved

Clear linkage between production risk and financial exposure was established, with strengthened board-level oversight.

• Production-to-financial risk linkage established
• Asset-related risk visibility improved
• Control duplication rationalised
• Structured executive risk narrative delivered