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Unformatted text preview: ns, change management, safety and risk management. According to BP, during 2010 it was in the process of implementing a comprehensive, company‐wide approach to management called the Operating Management System (“OMS”). OMS was and is intended to “provide a standardized approach that promotes effective and consistent risk management across the company.” 424 Under BP’s OMS, local business units are responsible for implementing their own OMS. BP’s drilling and completions unit in the Gulf of Mexico issued its local OMS in November 2009. 425 Gulf of Mexico drilling operations are also guided by BP’s DWOP manual and its “Beyond the Best” manual. BP drilling operations must also follow the Company’s “golden rules” of safety. 1. BP’s Risk Assessment Policies BP has recognized that “[t]he identification and mitigation of operating risk is a key element of OMS” and has touted a number of its risk assessment and management tools. 426 In January 2009, BP issued a company standard on assessment, prioritization and ma...
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This note was uploaded on 01/18/2014 for the course BEPP 305 taught by Professor Nini during the Fall '11 term at UPenn.

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