Process Safety Event Rate
Our voluntary target for maintaining a leading position in terms of Process Safety Event Rate aligns with our commitment to keeping our workplaces and processes safe for our employees, contractors, business partners, external stakeholders, and the environment, as stipulated in our Code of Conduct and Process Safety Management Standard.
2025
Maintain leading position in Process Safety Event rate
2030
Maintain leading position in Process Safety Event rate
Relative target
Value chain activities
Own operations
In scope
100% for fully owned assets and for assets where the Group’s interest is less than 100% but more than 50%, and where the Group’s interest is 50% or less if OMV is the operator of a joint venture
Out of scope
Joint ventures where OMV does not have control or operatorship
Geographical coverage
Group-wide
Base year
2023
Baseline value
0.23
The methodology for classification of the Process Safety Event Rate follows a tiered concept as outlined in API 754. This rate is calculated as the normalized rate of Tier 1 and Tier 2 process safety events per 1,000,000 hours worked by applicable company functions within the reporting scope, excluding hours worked by corporate functions. This target is based on comparing our performance with peer groups, using data published by industry associations such as IOGP and Concawe for the previous year.
The target was set following consultations with Executive Board (EB) members, SVPs, and HSSE, and approved by the EB. There were no changes to the target in 2024. All data is still collected via our internal incident reporting tool.
Status 2024:
0.20 (2023: 0.23)