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Norway’s authority on petroleum safety awards contract to Vysus Group for risk consulting services

Vysus Group (formerly LR Energy), the global engineering and technology company, has secured a framework agreement with the Petroleum Safety Authority Norway (PSA), the government agency with regulatory responsibility for safety in the petroleum sector across the Norwegian continental shelf.

The agreement, which was awarded at the end of 2020, will see Vysus Group support continuous improvement related to safety and provide advice in risk analysis and emergency preparedness, helping the PSA investigate accidents and incidents over a two-year period, with the option to extend the agreement for an additional two years into 2024.

Robert Nyiredy, VP Risk Management ConsultingRobert Nyiredy, VP Risk Management ConsultingThe scope of work will include assessments to determine risk that may cause damage to offshore personnel or the environment, the evaluation of emergency preparedness conditions to limit the impact of an incident, and various studies which may include the assessment of new technologies, fire and explosion calculations, security systems or process solutions.

Leveraging decades of experience working in the Norwegian offshore industry, Vysus Group’s team of experts will also support the PSA on projects to highlight the level of risk within the petroleum activities.

A recent survey[1] by the Norwegian Statistics Bureau (SSB) has found that investments in oil and gas activity in 2021 are accelerating, with an estimated 166.3 billion NOK ($18.4 billion) boost to the petroleum industry, up from the 148.6 billion NOK forecast in August 2020.

Robert Nyiredy, VP Risk Management Consulting, Vysus Group said: “By proactively identifying risk, and arming asset operators with key data and insights, the PSA is helping to prevent serious health and safety issues and catastrophic environmental disasters before they arise, thus protecting the environment and the hundreds of thousands of personnel working in Norway’s oil and gas sector each year. This has never been more important than it is today, as operators face the challenges associated with reduced manpower and Covid-19 restrictions.”

Mr Nyiredy continued: “We are proud to continue our relationship with the PSA, and to have the opportunity to support its sharp focus on safety through this latest agreement. The appointment is testament to the trust and confidence that Vysus Group has built with the government authority, and our commitment to making global oil and gas operations as efficient and safe as possible through our specialist risk management services.”

[1] https://www.ssb.no/en/energi-og-industri/artikler-og-publikasjoner/upward-adjusted-estimates-for-oil-investments-in-2021

About Vysus Group

Following a strategic-carve out from Lloyd’s Register (LR), LR’s Energy business is now Vysus Group, a standalone engineering and technical consultancy, offering specialist asset performance, risk management and project management expertise across complex industrial assets, energy assets (oil and gas, nuclear, renewables), the energy transition and rail infrastructure.

Vysus Group retains LR Energy’s entire capability and continues to offer its full suite of technical, regulatory and operational expertise globally, with all 650+ of our global experts transitioning. Driven by its purpose to help clients manage risk and maximise performance, blending deep technical knowledge and data-driven insights with hands on expertise.

LR’s Energy business was founded in the 1930s following LR’s diversification from marine assets into the oil and gas industry. LR Energy has subsequently supported the transformation of global energy infrastructure, working on complex and large-scale energy projects around the world, becoming one of the leading engineering consultancy partners of choice. Vysus Group is currently using an interim logo and brand identity whilst we execute a thorough rebrand process. Vysus Group will launch a new logo, brand identity and full website in March 2021.

For more information about Vysus Group, visit: www.vysusgroup.com

About PSA

The Petroleum Safety Authority Norway (PSA) is subordinate to the Ministry of Labor and Social Affairs (ASD) and has government responsibility for safety, emergency preparedness and working environment in the petroleum activities. The PSA shall set premises for and follow up that the players in the petroleum activities maintain a high level of health, environment, safety and emergency preparedness and through this also contribute to creating the greatest possible value for society.

PSA shall conduct information and advisory activities to the players in the petroleum activities, cooperate with other health, environment, safety (HSE) authorities nationally and internationally and contribute to knowledge transfer in the HSE area in society in general.

The PSA shall, through its own supervision, and co-operate with other authorities with independent responsibility in the HSE area, ensure that the supervision of the petroleum activities is conducted in a comprehensive manner. The PSA's area of authority also includes supervision of safety, emergency preparedness and working environment at petroleum facilities on land. The PSA demarcates and carries out targeted supervisory tasks.