NASA, Deloitte team to provide risk mitigation services

June 28, 2013 at 4:13 PM
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HOUSTON, June 28 (UPI) -- Advanced risk management services are being offered to the oil and gas industry by NASA's Johnson Space Center and Deloitte LLP

The services, the result of a partnership accord signed earlier this week, aims to help oil and gas companies eliminate blind spots in their decision making.

"NASA is a leader in applying risk strategy to highly complex systems that operate in extremely demanding environments, while Deloitte is a leader in providing valuable professional services to the full range of oil and gas companies," said veteran astronaut William "Bill" McArthur Jr., JSC director of Safety and Mission Assurance. "Energy companies facing catastrophic consequences from low-probability risks will now have a range of tools and techniques to minimize the probability of these risks and improve their overall safety culture."

In addition to simulation and modeling, the partnership will offer industry "dynamically improving risk-management techniques," such as artificial-intelligence tools applied to remote decision-support systems.

The partnership was signed in a ceremony attended by Johnson Deputy Center Director Steve Altemus, Deloitte & Touche LLP principal David Traylor and John England, vice chairman, Deloitte LLP, and leader of Deloitte's oil and gas practice.

"Activities like deep-water drilling, undersea production and pipeline operations all face the same kind of 'black swan' events that pose a threat to space exploration," Traylor said. "Our strategic alliance with NASA will integrate the space agency's 50-plus years of experience preventing and recovering from catastrophic accidents in human spaceflight into Deloitte's advanced-risk strategies -- applying state-of-science capabilities to oil and gas companies back here on earth.

"Ultimately, proactively identifying and mitigating low-probability yet high-impact events can save lives, resources, money, reputation and environmental disruption."

NASA said it believes the alliance with Deloitte has the potential for expanding beyond the oil and gas industry and help commercialize NASA's scientific capabilities.

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