Non-technical risks to progress are growing larger, more frequent and more intense – thanks largely to the interconnected world we now live in. Companies must recognize that their critics have legitimate views that must be addressed. They must change their way they react to the challenge – listening, engaging, choosing new allies – so they build sustainable solutions to the issues that will allow projects to be completed and operations to continue – profitably.
Companies face real and growing costs from non-technical risks driven by communities, governments, NGOs and media – both social and traditional. International oil companies’ projects now take double the time to come online compared with a decade ago, causing significant increase in costs. Non-technical risks account for nearly half of the total risks, with stakeholder-related risks the largest category.
Highly detailed reviews of the topics covered in our NTR Assessments include:
- Executive risk summaries
- Implementation risk assessments
- Detailed infrastructure maps
- Available services
- In-depth review of new national and local laws, regulations, and permits at both a national and local level (cost, timing, contacts)
- Environmentally protected areas
- Priority marine regions
- Fishing activity and communities
- Local communities
- Local at-risk flora & fauna
- Archeological sites
- Security – authorities, services, illegal taps, etc.
- Political environment