This situation is exacerbated in weak market conditions, when operators are able to choose from a large number of available rigs. In conditions of tight competition, an effective HSE-MS and proven safety track record might just be the factor that determines contract award.
One area where further research could be conducted is to investigate and quantify the savings from reduction of loss.
For every incident, there is some loss to the company. This may be lost time and wages, damage to equipment, or other loss that is more difficult to measure. If there is a reduction in the frequency of incidents, it follows that there will be additional savings to the company. Present methods of accounting and statistic gathering do not presently facilitate such analysis.
