RREG 001 - Regulatory, Environment and Sustainability

The energy industry is heavily regulated, and regulations continue to evolve and change on an ongoing basis.  Regulatory compliance remains one of the greatest challenges that the energy industry faces.  Producers not only have to ensure compliance with multiple agencies in multiple jurisdictions, they also have to worry about compliance across multiple disciplines. The risk factors and cost of non-compliance is increasing regardless of where you are in the production value chain. The cost of compliance greatly affects a company’s bottom line, and a failure to adhere to regulatory compliance standards can incur costly and punitive fines and reparations.

Students will develop an understanding of the development of environmental law and the practical application of federal and provincial regulations specific to oil and gas operations. Stakeholder engagement is a complex regulatory component that continues to evolve.  Industry must be proactive in comprehending emerging policy and regulatory developments. Students will learn to identify various stakeholder groups, mandated regulatory practices and the mechanisms in place for resolving disputes. Key concepts surrounding risk assessments and management, some of the typical environmental liabilities faced by industry and the consequences of improper risk mitigation will be covered.  Regulatory compliance and enforcement programs will be studied, as well as events that can trigger a resulting enforcement action.  Lastly, the course will cover environmental auditing standards and management systems that businesses use to identify its interactions with the environment, minimize impacts and reduce risk. 

0 credits

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