Global oil and gas service provider signs up for the Risk Intelligence System

Risk Intelligence has signed an agreement with a major South-East Asian oil and gas service provider to global clients for the Risk Intelligence System (MaRisk+PortRisk).

Global oil and gas service provider signs up for the Risk Intelligence System

The client is a global integrated oil and gas service and solution provider that operates across the entire upstream value chain in highly demanding global environments where access to constantly updated risk intelligence and security alerts is of paramount importance.

Hans Tino Hansen, CEO of Risk Intelligence says:

“With this new agreement, Risk Intelligence underlines our capability as a specialist risk resource for service providers in the oil and gas industry. The current threat picture to oil and gas service providers is complex and demands deep insight into various risk scenarios that the Risk Intelligence System provides 24/7. We are also proud to secure new clients in the current COVID-19 business climate, where June has seen a pick-up in business.”

With access to the Risk Intelligence System, the new client will be joining many other oil and gas service providers operating word-wide, that are assessing security threats and risks based on intelligence and in-depth assessments from Risk Intelligence. Today, 14.7% of the global merchant fleet in international traffic is operated by Risk Intelligence clients.

The license agreement provide access to the Risk Intelligence System (MaRisk+PortRisk) through a subscription where the client in advance pays for access to the system for twelve months. In general, the Risk Intelligence System license agreements create recurring revenue and generates strong cash flow for the Company.

The Risk Intelligence System is a digital security intelligence solution that has been developed in close collaboration with global businesses established in the fields of shipping, offshore, oil and gas. The digital platform has been designed based on customer needs along with the experienced security risk analysts and developers at Risk Intelligence. The Risk Intelligence System offers customers a complete picture of immediate, short- and medium-term security risks for coastal areas, ocean, port and landside threats. The analysis is focused on insurgency, piracy, organised crime, activism, terrorism, military conflicts and any the interplay between these. Risk Intelligence identifies where serious events arise and presents an assessment of how great the threat is in each area. This makes it possible for companies to evaluate both current and future security risks with the purpose of minimising risks affecting their operations.

The parties have agreed not to disclose the value of the contract.