BP Plc is carrying out a global review of its safety regulations following a refinery explosion last year.
A Texas refinery explosion in 2005 resulted in the deaths of 15 people and 170 injuries. Following the blast in March, BP announced the review and appointed John Mogford as vice president of safety and operations.
According to the Financial Times, the review is likely to take five to ten years to implement and could be compared to the Exxon Mobile Corp safety overhaul which followed the Alaskan oil tanker spill in 1989.
A root and branch examination of all aspects of safety and operational integrity has been underway for some time. It is an evolutionary process rather than a revolutionary one, said a BP spokesman, according to Reuters.