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The ISO standard for the petroleum, petrochemical, and natural gas industries is ISO 29001:2020. Based on the ISO 9001 quality management standard, the standard provides guidelines for the implementation of a risk management system. A framework for identifying, evaluating, and managing risks associated with the production and supply of natural gas, petrochemicals, and petroleum is provided by ISO 29001:2020. Guidelines for risk identification, analysis, evaluation, and treatment, as well as communication with stakeholders, are included in the standard. The primary goal of ISO 29001:2020 is to assist businesses in these industries in effectively managing risks, improving performance, and ensuring business continuity
The International Organization for Standardization (ISO) created the standard ISO 29001:2020 for the petroleum, petrochemical, and natural gas industries. The need for an oil and gas industry-specific quality management standard prompted the development of the standard in 2003. The initial ISO/TS 29001 version was released in 2007, and the most recent ISO 29001:2020 version was released in 2020. Based on the ISO 9001 quality management standard, ISO 29001:2020 provides a framework for implementing an oil and gas-specific risk management system. Organizations in the oil and gas industry around the world have adopted the standard, which aims to enhance the safety, dependability, and quality of products and services
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