ESC conducted a Portfolio HSSE Due Diligence Assessment in 2017 involving over 10 oil terminals and over 300 retail stations located across the country.
ESC completed a multi-site due diligence program for client who intended to acquire a portfolio of over 10 oil terminals and over 300 retail stations located across the country. The assessment was carried based on the ASTM E1527-13 Standard Practice for Environmental Site Assessment: Phase I Environmental Site Assessment, an international standard adapted for use in The Philippines.
The assessment included “Remote Sensing” of operations of a selection of assets using publicly available data and industry contacts, to focus our review and review of a data room. This included HSE policies and systems, location and setting, site features and history, description of activities, tank storage, HSSE management and compliance, regulatory relations, risk management and audits, air, noise, odour, water, wastewater and solid waste management, fire protection, safety and security, site contamination, land ownership, asset integrity assessment, asset design, HSSE and financial planning.
Recommendations were made for mitigation of potential liabilities by contractual protection and for issues which could impact transition to new ownership.