Compliance Assurance Services in Oil & Gas and Energy

Motivation

DNV currently provides regulatory compliance services: Governance, risk management and compliance, which are fundamental pillars for sustainable business. Also, DNV is deeply involved in the development and maintenance of norms and industry standards. As a trusted third party, DNV GL initiates Joint Industry Projects to develop recommended practices and standards for the industry. The use case is to develop a pilot for Regulatory Compliance, to support DNV GL current audit, verification and certification (and classification) services to solve the following issues:

  • How to be compliant in different regions or related to different operations (e.g., specific industry norms)?
  • Which regulatory bodies enforce which regulations?
  • How to proof for future regulation: Is there any new regulation coming up that we need to comply to?

The objective of this Use Case is to explore how existing compliance related services offered by DNV GL and existing compliance regimes within DNV GL customers could benefit from the Lynx platform and from down streamed services.

This will be realised by (i) making use of the LKG and enriching it with the DNV industry standards in Oil & Gas and Energy; (ii) providing new data models including the terms, concepts and relations that are relevant for this specific domain; (iii) using the previously developed vocabularies, documents will be annotated and linked to other documents in the LKG; (iv) summarising industry standard documents (see Summarisation service) and enabling third parties to comment on the drafts; (v) translating and comparing documents (see Translation and Recommendation and Alert Services). These steps enable DNV GL to establish the new Compliance Assurance Services for their businesses and customers. The prototype created within Lynx will differ from existing corporate systems in:

  • Improved access to aggregated documents and data in the certification and verification domain through the single access point provided by the Lynx platform.
  • Easier understanding of regulatory documents and norms by summarising the content of documents, enabling corporate drafting of documents.
  • Harmonise regulations among EU member countries by comparing and translating regulatory documents, and obtaining smart recommendations.