It also goes to prove the old adage that self-regulation is the best regulation.
OISD – except in the Upstream Petroleum Sector – is still a regulatory (and not a statutory) body but that has not affected implementation of the OISD standards. The participative process followed in standard formulation has resulted in excellent level of compliance by the industry culminating in a safer environment in the industry. In more than 25 years of its existence, OISD has developed a rigorous, multi-layer, iterative and participative process of development of standards – starting with research by in-house experts and iterating through seeking & validating inputs from all stake-holders – operators, designers, national level knowledge authorities and public at large – with a feedback loop of constant updation based on ground level experience obtained through audits, incident analysis and environment scanning. Moreover, OISD was also given responsibility of monitoring implementation status of these standards through safety audits.
