In the context of the oil, gas, and renewable energy industries witnessing significant upheavals, establishing a solid Risk Management System is not only an urgent requirement but also a key factor determining the success of a business. Recognizing this importance, on March 26, 2025, PTSC Quang Ngai (UPCOM: PQN) participated in a Risk Management review meeting and a technical training program on risk assessment and analysis in accordance with ISO 31000:2018, ISO 31010:2019, and the COSO 2017 Enterprise Risk Management Framework, organized by PetroVietnam Technical Services Corporation (PTSC)
Attending the program on behalf of PTSC headquarters were Mr. Dong Quang Trieu – Deputy Head in charge of the Health, Safety, Environment & Quality Division (HSEQ Division), along with staff from the System Management Department, the Risk Management and Insurance Department under the HSEQ Division. Representing PTSC Quang Ngai were Mr. Ngo Tan Quang – Deputy Director/Management Representative of the HSEQ System (MR), department leaders, risk coordinators from various departments, and the HSEQ Department.
During the training session, the HSEQ Division discussed and clarified the contents of the Risk Appetite Statement, the unit’s risk acceptance levels, and risk metrics to ensure compliance with management system policies and documents; guided the preparation of the Risk Register in accordance with the Risk Management Procedure; guided risk assessment and analysis techniques according to ISO 31000:2018, ISO 31010:2019, and the COSO 2017 Enterprise Risk Management Framework; and recorded the unit’s comments and recommendations to improve and complete the Corporation’s Risk Management System
Through real-life case studies, participating departments had the opportunity to discuss and practice various risk assessment methods, thereby strengthening control capabilities and mitigating potential negative impacts of inherent risks.
PTSC headquarters highly appreciated the enthusiastic and responsible participation of PTSC Quang Ngai, which demonstrated a spirit of learning, unity, and close coordination among member units. This also reflects PTSC Quang Ngai’s strong commitment to building an effective risk management system, continuously embracing the newest knowledge and practices to apply in its operations, thereby enhancing competitiveness, ensuring safety, and fostering sustainable development.
Pham Thanh Ngan
