Safety Performance

In 2022, Core Lab recorded a Total Recordable Incident Rate (TRIR) of 0.31 and a Lost Time Incident Rate (LTIR) of 0.10, down slightly from previous years.

Core Lab has continued to operate in 2023 as an essential business with timely delivery of products and services to our clients during the COVID-19 pandemic. We have also implemented a continuity plan across our global organization to protect the health of employees while servicing our clients. Business disruptions have halted, impacted, or restricted operational workflows because of quarantine protocols, restricted travel, delays in product delivery, project delays, as well as cost-cutting measures. This operational stress from COVID-19, along with a significant reduction in man-hours, lessened in 2022 over 2021 and safety has improved in both TRIR and LTIR.

Safety Goals: Path to Zero

Core Lab will establish goals and targets based on three-year averages. It is our view that the sustainability of our safety program must be measured over longer periods of time and that high-performance safety cultures display solid downward trends in injury rates over time.

Trends for both LTIR and TRIR have continued movement towards growing sustainable safety cultures within business segments. Core Lab firmly believes the trending of our three-year averages best shows the sustainability of the safety program over time by removing the short-term peaks and valleys. This provides a more stable and measurable LTIR and TRIR, avoiding safety expectations based on just one good or bad year. Core Lab goals are set with the expectation of driving down these averages in 2023.