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CAPEX Project Overruns: Why You Simply Can’t Afford Them
July 15 by 8over8 LtdResearch suggests that on time and on budget completion of complex projects is the exception rather than the norm. In 2014, EY analysed 365 complex projects and found that 64% face cost project overru...
Mega Projects: Avoiding Contractual Disputes
July 15 by 8over8 LtdBy their nature, mega projects are funded by well-resourced organisations. Typically, funding security has allowed some elasticity for overruns and the associated cost, which recent experience has ill...
Mega Projects: Cost Overruns In Oil & Gas
July 15 by 8over8 LtdProspective megaprojects in design – a combined group of over $400bn by most estimates – have now been postponed, re-phased, re-cycled or cancelled. Fueled by high oil prices for over a de...
Contract Management: Why Use A Shotgun To Kill A Fly?
July 15 by 8over8 LtdContract management platform… A few years back, at a UKTI event, I briefly met with the CFO of one of the largest oil companies in South America. His company was about to embark on a...
Mega Projects: Keeping On Track When Oil Price Is At Rock Bottom
July 15 by 8over8 LtdIn June 2014, even when Brent prices were collapsing, the industry still did not believe that they could fall below US$50, but as the supply surplus grew, prices continued to drop. Early in 2015, the...
CAPEX Project Overruns: Tackling The Lasting Negative Effects Of Risk
July 14 by Oil & Gas IQ EditorAt a time when commodity prices are changing in unpredictable cycles and directly impacting profit margins, there’s increasing pressure to deliver capital projects on time and on budget.This...
Lower Prices Demand A Hard Look At Costs: Ensuring Megaproject Performance In Oil And Gas
July 14 by Oil & Gas IQ EditorThe oil and gas megaproject industry knows how to be profitable even when prices drop below £40/bbl. But ten years of high oil prices has caused a greater than doubling of supply chain costs, an...
Contractual Risk Management In Capital Projects – A New Frontier
November 30 by Oil & Gas IQ EditorThe Oil and Gas Industry is investing heavily in capital projects with a view to finding more recoverable reserves. Upstream global investment reached almost $700bn in 2013, much of this investment wa...