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OperatewithExcellence
02
EnterpriseRiskManagement
Afterwe completedand issuedour Enterprise
RiskManagement (ERM) Policy in2014,wehave
begun to implement our ERMprogram that
providesmoreeffectivemanagement of business
risks inalignmentwith the International Standard
onRiskManagement (ISO31000).
In2016,weplan tofinalizeanewEnterprise
RiskManagementStandard, todevelop internal
proceduresand risk trainingmodules inalignment
with this standard, to conduct strategic riskand
operational risk assessments acrossDolphin
Energy, and to integrate riskmanagement
requirements into internal processes related to
projectmanagement, audit, HSEmanagement,
andothers.
ProjectManagement
Inour efforts tomaintain thehighest levelsof
performance,wehave successfully implemented
our enhancedProjectManagement System
(PMS). ThenewPMS setsout procedures
and controls that ensure theefficient, timely,
andeffectivedeliveryof projects in linewith
corporateobjectives. Thenew systemhas also
been integrated intoour contractors’ systems.
DolphinEnergy is also implementinganumber
of initiatives tobuilda cultureof qualityat the
company. This includes aQuality Induction
Program,monthlybulletins,monthly reports
tomanagement, and frequentmeetings and
workshopswithemployees and contractors
toexplainquality requirements and support
compliance. In2015, aprojectsquality survey
was conducted to collect employees’ feedback
onqualityperformance relating toanumber
of key issues.
BusinessContinuityManagement
BusinessContinuityManagement helpsus
identify the critical businessprocesses, the risks
of disruption, anddevelop strategies andplans
to improve thebusiness resilienceofDolphin
Energyand respond toany interruptions to
businessoperations.
AtDolphinEnergy, theBusinessContinuity
Management System (BCMS) addresses each
of thefivemajor componentsof thebusiness:
our staff, facilities (plant, pipeline infrastructure,
offices, IT, etc.), downstreamoperations, upstream
operations and supporting services. Adraft of
thebusiness continuityplans for the fourDolphin
Energyoperational siteswas completed in2015
and table topexerciseswereperformed. These
exerciseshavehelpedfine tune theplanswhich
will be completed in2016.
Thecompletionof theBCMSenablesDolphinEnergy
toquickly identify thecritical activities in theevent
ofabusiness interruption, andhave rehearsedand
effectiveplans inplace tocontinueor recover those
activitieswithminimumdisruption to thebusiness
and itscustomers.More importantly, itwill ensure
that there is improved resilience in theprocesses
and thesupporting infrastructure throughBusiness
ContinuityRiskAssessments.
A legal requirement to implementbusiness
continuitymanagement inKuwaitgovernmententities
wasmandatedby the federal entity, theNational
EmergencyCrisisandDisastersManagement
Authority (NCEMA), inFebruary2014, inaccordance
with itsFederalBCMStandard released in2012and
laterupdated in2015.Asa resultof itswork in this
area,DolphinEnergy iswellprepared tocomply.
