Safetec

What Safetec does

Safetec Nordic AS is a Norwegian risk management and safety advisory firm founded in 1984 (originally as SIKTEC), headquartered in Trondheim with six Norwegian offices (Oslo, Stavanger, Bergen, Haugesund/Karmsund, Tønsberg) and a wholly-owned Swedish subsidiary (Safetec Sweden AB) in Stockholm. Since October 2024 the company operates as a wholly-owned subsidiary of TÜV Rheinland, the German testing, inspection and certification group. Safetec provides professional consulting services across the full project lifecycle - from concept studies through operations to decommissioning - spanning risk analysis (HAZID, HAZOP, QRA), technical and operational safety, consequence analysis, reliability and optimization, emergency preparedness, security, incident investigation, HOP-based learning, HSSEQ/sustainability, and cybersecurity to clients in oil and gas, clean energy (hydrogen, ammonia, CCS, offshore wind, batteries), healthcare, maritime, public sector, transport, and aquaculture.

The firm's technical delivery combines human, organizational, and technical risk expertise with proprietary digital tools including the Leak Frequency Calculator (PLOFAM-based, co-developed with Lloyd's Register for Equinor), the COLLIDE maritime collision risk model, the COAST GIS tool for AIS traffic analysis, the SOFUS (SIL Follow-Up System) for instrumented safety functions, and the newly launched (2024) Power BI-based Safe Alpha QRA Dashboard. Safetec's revenue model is project-based professional services sold directly by advisors without dedicated sales or marketing functions, with multi-year framework agreements common among enterprise energy and maritime clients (Vår Energi, Equinor, Gassco, Aker Solutions, Statkraft, Hurtigruten, Skanska, Northern Lights CCS, Klaveness). Go-to-market relies on direct consultant engagement, repeat enterprise relationships, and thought-leadership through targeted JIPs such as SAFEN (clean energy safety, 14+ partners). Reported revenue stands at 242,000,000 NOK (~US$22-23M) with 140 employees across seven offices.

Name

Safetec

Legal name

Safetec Nordic AS

Website

https://safetec.no

Company type

Private

Founded year

1984

Operating status

Operating

Headcount range

101–250 employees

Short description

Safetec Nordic AS is a Norwegian risk management and safety advisory firm providing QRA, technical safety, incident investigation and emergency preparedness consulting to oil and gas, clean energy, maritime, healthcare, transport, and public sector clients across Norway, Sweden, and the UK.

Ownership category

akta.pro rank

Product category

Risk Management and Safety Consulting Services

NAICS

Investigation and Security Services (5616), Testing Laboratories and Services (541380)

SIC

Services-Testing Laboratories (8734)

akta.pro primary industry

Security Consulting, Risk Assessment & Security Program Design (BPABAMAE)

Keywords

• Risk management consulting
• Safety advisory services
• Technical safety engineering
• Incident investigation services
• Emergency preparedness consulting

Headquarters

HQ city

Trondheim

HQ country

Norway

HQ region

Europe

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Risk Management Consulting Services: Professional consulting services providing risk management, risk-based decision support, and safety advisory services across multiple industries including oil and gas, clean energy, healthcare, maritime, public sector, and transport.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Safetec provides risk management and risk-based decision support consulting services, combining technical, human, and organizational factors expertise across oil and gas, clean energy, healthcare, maritime, public sector, and transport industries. Service offerings cover risk analysis (HAZID, HAZOP, QRA), technical and operational safety, consequence analysis, reliability and optimization, incident investigation, emergency preparedness, security, HSSEQ, sustainability, and cybersecurity advisory. Under the Safetec Insight initiative, the company also develops interactive digital tools such as the Leak Frequency Calculator and Safe Alpha QRA Dashboard.

Product overview

Safetec is a risk management consulting company that offers a portfolio of advisory services rather than a single unified software product. Their core offering consists of consulting services across multiple domains including cybersecurity, leadership/organization/safety, incident investigation, emergency preparedness, security, HSSEQ and sustainability, technical and operational safety, risk analysis, consequence analysis, and reliability and optimization. Additionally, they provide digital products under the Safetec Insight initiative, which includes the Leak Frequency Calculator (a web-based tool estimating leak frequencies for offshore facilities) and the Safe Alpha QRA Dashboard (an interactive Power BI-based visualization of Quantitative Risk Analysis results). Their SOFUS tool supports operational follow-up of instrumented safety systems (SIL).

Differentiator

Problem solved

Functional benefit

Products and services

• ATEX Services

Quantifiable outcome

• 40+ years of experience providing risk management services since 1984
• +1 more outcomes

Named customers10 records

Segments7 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature5 records

Partnerships

Six partnerships are on record, tiered flagship, core and minor.

• SAFEN Industry Partners (14+ companies)flagshipStrategic or Co-development Partner · 1 January 2024SAFEN (Safe Energy Carriers) is a Joint Industry Project led by Safetec with 14+ industry partners working together to address knowledge gaps regarding failure mechanisms, hazards, and accident situations in hydrogen, ammonia, and CCS technologies.
• Lloyd's Register (for Equinor)coreStrategic or Co-development PartnerDeveloped the PLOFAM (Process Leak for Offshore Installations Frequency Assessment Model) in a joint industry project managed by Lloyd's Register on behalf of Equinor. Safetec uses this model in their Leak Frequency Calculator tool.
• KBRcoreImplementation/ SI/ Consulting PartnerSafetec was contracted by KBR (Kellogg Brown and Root Limited) in London for the Northern Lights Project FEED phase to provide safety analyses for the world's first CO2 storage facility.
• NORCEminorStrategic or Co-development PartnerNORCE (Norwegian Research Centre) partnered with Safetec for research and innovation collaboration.
• Blå MediamentorminorStrategic or Co-development PartnerCollaboration with Blå Mediamentor on maritime safety culture projects including training courses and exercise programs for maritime companies.
• Climate Futures (SFI)minorStrategic or Co-development PartnerCentre for research-driven innovation where Safetec works on connecting ship data, weather data, and accident data to analyze future risk changes due to climate change.

Scale indicators5 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• DNV: Norway-headquartered global risk management and classification society offering safety, QRA, HAZID, and asset integrity services to offshore, maritime, and energy clients. Direct competitor for Norwegian offshore and clean-energy safety studies, but at substantially greater scale.
• Bureau Veritas: Global testing, inspection, and certification (TIC) company with a strong marine, offshore, and industrial risk services portfolio. Competes head-to-head for energy-sector QRA, asset integrity, and certification work, and is a sister TIC firm to TÜV Rheinland.
• TÜV SÜD: German global TIC company providing risk, safety, and certification services across energy, mobility, and industrial sectors. Sister organization to Safetec's parent TÜV Rheinland and a direct comparable in business model, geography, and customer overlap.
• Lloyd's Register: UK-headquartered classification and risk consultancy with deep offshore, energy, and maritime safety expertise. Direct peer — co-developed the PLOFAM leak-frequency model with Equinor that Safetec productized, and competes for the same QRA/HAZOP scopes.
• ABS Group: US-headquartered TIC and risk consulting firm that owned Safetec from 2012 to 2016. Competes for offshore safety, asset integrity, and risk management work for energy and maritime clients globally.
• DEKRA: German global TIC organization providing testing, inspection, certification, and safety consulting across automotive, industrial, and energy sectors. Closely comparable business model and customer base to the TÜV Rheinland group that now owns Safetec.
• RINA: Italian classification society and engineering services firm offering certification, marine, energy, and industrial risk consulting. Direct peer for offshore QRA, certification, and HAZID/HAZOP studies, particularly in European energy markets.

Regional players

• COWI: Danish engineering consultancy with strong Nordic presence in infrastructure, energy, and environmental risk services. Overlaps with Safetec in transport safety (RAMS) and offshore/clean-energy risk, but anchored in engineering design rather than risk specialization.
• Ramboll Group: Denmark-headquartered engineering, design, and consultancy firm with a sizable risk, safety, and environment practice serving energy, transport, and infrastructure clients in the Nordics. Comparable in Nordic positioning and risk-advisory scope, but broader in engineering scope.

Broad incumbents

• Wood Group: Global engineering and consultancy firm with a substantial safety, risk, and reliability practice serving upstream, midstream, and clean-energy clients. A key talent pipeline for Safetec (e.g., RAM/optimization hires from Wood) and a broader incumbent for integrated energy risk scopes.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/29343/admin

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Safetec