Abstract: Accident prevention is the key in effective Health, Safety and Environmental management system of any Organization. Understanding the pattern of accidents and ratios helps in preventing major accidents. The older theories on accident prevention have influenced the safety professionals to design accident prevention programs. However, over a period of time, rapid growth in industrials activities are challenging the theories. Hazards are different for different industries and hence resultant safety risks are not uniform. A need arisen to further review and interpret the accident patterns. This paper focused on reviewing and highlighting the gaps in interpretation of accident triangles with respect to Oil and Gas (upstream). How the Oil and Gas is interpreting the accident occurrence and evolving with preventive measures