Benchmarking has become a general activity in today's business environment. It permits an apparent understanding of the performance of a business entity in comparison with its peers, competitors and global leaders. As a step towards world-class performance it undoubtedly has its benefits in identifying areas for commendation and areas for improvement.

Creating benchmarks for environmental health and safety are key components of a Health Safety Environment Management System. However, there is a need to be cautious in how benchmarking is carried out. Businesses are complex organisms - they operate in an environment where external and internal pressures compete to drive strategy and tactical decisions in a variety of disparate directions. Focusing on a particular area may give and unbalanced view of the performance of the business. Benchmarking needs to be holistic in its approach, giving a clear overview of the performance of the whole business and shows the areas where focus to be given by the management to enhance the performance. It is presumed that companies use their own selection of Key Performance Indicators to measure HSE Performance. However, this paper gives emphasis the importance of benchmarking, Safety KPI's of industry wide accepted which can be used to benchmark their performance against that of the global oil & gas industry, in particular to E&P industry through which safety performance can be accessed regularly and ensures continual improvement.

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