Eternity Law International News ISO 29001: Oil & Gas Industry

ISO 29001: Oil & Gas Industry

Published:
September 9, 2021
Share it:

Industry standards are being developed with the aim of unifying management systems, integrating them with each other, through this, optimizing enterprise administration processes. Basis of this standard is the process approach – the identification of the activities of the enterprise, including the quality management itself, the analysis of methods for managing these processes. ISO 29001 is a technical specification developed for the oil, petrochemical and gas industries. Purpose of this document is to implement and comply with all the basic requirements of the quality management system at enterprises whose direct line of business is oil and gas resources development and their processing.

This narrowly focused standard is based on a general postulate – ISO 9001. The implementation of the system with the accompanying preparation of documentation and certification confirms the competence of manufacturers, and guarantees compliance with the requirements of potential customers in this area.

Standard Influence Field

The oil, gas and petrochemical industries have certain specificities that must be taken into account when standardizing quality management processes. These industrial sectors are associated with potentially hazardous processes for processing of flammable substances, liquids and gases. To ensure the safety of employees involved in these processes, end users and the public, as well as an adequate environmental protection level, while maintaining the continuity and profitability of the production cycle. ISO 29001 covers the following.

  • Repair of devices and materials.
  • Research of deposits of hydrocarbons and other minerals.
  • Field development, production of oil, mineral and other raw materials.
  • Purification of raw materials (oil, gas, etc.).
  • Sale of oil, gas and other minerals, and production made from them.
  • Maintenance and interconnection between the above processes.

Benefits of passing ISO 9001 certification

What are the benefits of implementing ISO 29001?

  1. Increases loyalty to the enterprise on the part of customers, partners and regulatory authorities.
  2. Provides a high level of attractiveness of the company for current and potential shareholders and investors.
  3. Forms a positive image of the company for the media, consumers and the public.
  4. A competitive advantage in domestic and international markets.
  5. Increases the chances of winning tenders and auctions.
  6. Minimizes the percentage of rejects, increases the average raw materials and products quality.
  7. Reduces unplanned costs associated with problems of low-quality goods (return, compensation for damage from products of inadequate quality, fines and other payments, costs of recalling and disposing of low-quality lots).
  8. Increases controlling processes efficiency and ensures the flexibility of their adaptation to changing conditions.
  9. It makes it possible to obtain more favorable conditions for insurance, obtaining loans, etc.

Additional ISO 29001 Points

  • Increased reputation and level of trust. ISO is an international standard. It is understood by market participants all over the world. 65% of our customers report that the level of trust in their company has increased significantly after ISO 29001
  • Cost optimization. The system allows you to simplify work processes, minimize manufacturing defects and build a process for continuous quality improvement.
  • Sales growth. The implementation of the quality management system enabled 73% of our clients to achieve the maximum quality of the services provided, expand the sales market, and increase the number of contracts with large customers.

It is especially recommended to undergo certification for companies involved in geological works, production, transportation and storage of hydrocarbon raw materials, gas and oil refineries, suppliers and repairers of industry equipment. A key ISO 29001 element in guaranteeing the appropriate supplied items is the quality control system used by the supplier of the goods and the service contractor.

In addition to obtaining international certification, you can also view offers in categories  ready-made companies and licenses for sale.

Table of contents

You could be interested

Mediation Services Spain

Tensions are a normal matter of private and professional matters. It is all about how one manages them. Mediation has grown to be another way preferred over the long conventional lawsuits workflow. Rather than walking inside a courtroom and taking the long, exhausting, expensive legal battle, people and companies choose professional mediation services. This new...

Company liquidation in Malta

Suspending an entity’s operation is a complex course of action which demands cautious consideration to legislative regulations and laws. There are three ways of doing this. The first one is voluntary, when an organization is closed down because of the members’ decision. The next one implies the lenders’ initiation. And there remains a compulsory way,...

Payment Processing and Compliance: Navigating the Regulatory Landscape

In 2022, the mean fiscal impact of a data leak hit $4,35 million. It was highly expected, if not bound to be realized, that this figure would reach the $5 million mark in 2023. This only emphasizes the vital need for secure fiscal technology. For those few who still have some doubt about the security...

International Jurisdiction Cases France

The nation in question has established itself as an integral player in applying the principle of universal jurisdiction. Local legal establishments are committed to handle with serious illegal actions such as genocide, war felonies, and atrocities against innocent people, even if this actions are done outside the nation’s borders. Such actions demonstrate that the country...

Crypto regulation in Europe (MiCA)

Cryptocurrency regulation in Europe is underpinned by the groundbreaking Markets in Crypto Assets Regulation (MiCA), an initiative spearheaded by the European Union. MiCA, having achieved consensus in October 2022 and subsequently receiving ratification from the European Parliament on April 20, 2023, represents an unprecedented global endeavor. Its primary mission is to furnish unambiguous directives and...

The Most Reliable Banks in the Cayman Islands With Offshore Banking License

There are 111 banking institutions with offshore banking license operating within the Cayman Islands. Most of them are subsidiaries (31) and branches opened by international banks. The Cayman Islands considered one of the most trusted international centers for financial activities. Deposits in excess of one trillion dollars made through banks registered and operating in the...

Related posts

Obtaining gaming license in Nevis 2025

In the last 12 months, Nevis has emerged as a powerful draw in gambling. In the Caribbean, the island’s warm climate means that you can both work and live happily there, but from now on you’ll be rich. It features a series of uncorrupted juridical structures, easily-passed licensing channels, and an incredibly competitive tax backdrop....

Opening a business in Turkey

Turkey occupies a liminal position between Europe and Asia, making it a pivotal trade and investment crossroads. A dynamic economy and a huge local market draw entrepreneurs from around the world to the country. Understanding the local legal and financial landscape is the first step for those looking for opening a business in turkey. This...

GmbH vs UG: Credibility Premium vs Capital Efficiency for Early-Stage Teams

This is where the rubber meets the road for founders in Germany who are ready to incorporate their first company. They must choose between two very popular modes. GmbH or UG are both limited liability companies under German law that offer both forms of personal protection for shareholders and work within somewhat similar statutory frameworks....

Liquidation of companies in Cyprus

Key components in sustaining the attractiveness of the island in question as a nation for businesses include the tax system, EU membership, and corporate legislation. Termination is the last resort for a firm sometimes. It is crucial that in such a process, members of the board, investors, and advisers have exposure. The paper gives simple...

From Share Purchase Agreements to Smart Contracts: Redefining Legal Frameworks

The world of corporate deals has always had its drama. Negotiations, long documents, endless edits, lawyers from both sides who spend weeks agreeing on every comma in the Share Purchase Agreement. But imagine a completely different picture: instead of a ton of tribulations on the way to perfection, there are a few lines of code...

Argentina Corporate Tax Explained

To investors and entrepreneurs eyeing Argentina, navigating the country’s corporate taxation sphere isn’t just a bureaucratic hassle; it’s a key step to building a viable and compliant business there. The fiscal regulations are not perfectly committed, but this region is rich in detailed tax laws that are quite well crafted towards control and digital verification....

Discover our services

The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.

Fill the blank: