ESC conducted a Portfolio HSE Due Diligence Assessment in 2019 involving 20 oil terminals and distribution depots and over 250 retail stations across the country.
About the Project
ESC completed a multi-site due diligence program for client who intended to acquire a portfolio of about 20 oil terminals and depots and over 250 retail stations located across Queensland, New South Wales, Western Australia and the Northern Territory.
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 Australia.
The assessment included “Remote Sensing” of operations using publicly available data and industry contacts to focus our review and review of a data room plus conference calls with the seller and site visits of a selection of assets in Brisbane and its vicinity. This included location and setting, site features and history, description of activities, tank storage, HSE policies, management and compliance systems, 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, HSE claims, HSE and financial planning.
Recommendations were made for mitigation of potential liabilities by contractual protection and for issues which could impact transition to new ownership.