By Mohamed A. El-Reedy
Oil and gasoline tasks have specific features that desire a various procedure in undertaking administration. the improvement of any kingdom relies on the advance of the power reserve via making an investment in oil and gasoline initiatives via onshore and offshore exploration, drilling, and extending facility capacities. as a result, those tasks want a kind of administration fit with their features, and venture administration is the most instrument to attaining a winning project.
Written through a veteran undertaking supervisor who has really expert in oil and fuel tasks for years, this e-book specializes in utilizing sensible instruments and strategies which are broadly and effectively utilized in venture administration for oil and gasoline projects. so much engineers research all topics, yet specialize in venture administration in housing tasks, management tasks, and advertisement structures or different related initiatives. even though, oil and gasoline initiatives have their very own requisites and features in administration from the vendors, engineering places of work, and contractors’ side.
Not purely beneficial to graduating engineers, new hires, and scholars, this quantity can also be a useful addition to any veteran venture manager’s library as a reference or a precious go-to guide. additionally intended to be a refresher for practising engineers, it covers the entire undertaking administration matters from an business perspective in particular for petroleum initiatives, making it the fitting laptop manual.
not only for undertaking managers and scholars, this booklet is beneficial to any engineering self-discipline or employees in sharing or utilising the paintings of a petrol venture and is a must have for somebody operating during this
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Extra info for Project management in the oil and gas industry
The net cash flow (NCF) is used for the following reasons: 1. To measure the return of the project and liquidity over the work of the project 2. To calculate economic return by the net present value NPV 3. To calculate the risk assessment of the project 4. To reduce taxes on the life of the project Net cash flow each year is calculated as the revenue from the project after subtracting the expense cost every year: • Net cash flow = revenue – (operating cost + additional indirect expenses + taxes + investment + depreciation) Revenue is the owner’s income from the project every year depending on the volume of production that the project produces multiplied by the price for this product.
This situation is repeated many times in oil and gas projects. However, if we apply the whole building commissioning system methodology, as presented and discussed deeply in Chapter 8, these problems may not occur. The acceptance criteria, the test procedure, and criteria should be defined in the scope of work. So try all of the deliverables that are tangible and measurable items that can be easily understood. 2 Feasibility Study Each phase of a project has a different importance and impact on the project as a whole, but each phase differs depending on the nature, the circumstances of the project, and its value and target.
The economic study for the project will be performed by personnel from a high level of the organization and with high skill, as this study will include the expected fluctuation of the price for oil and gas and other petrochemical products during the project lifetime. Their experience is based on similar, previous projects so they have records and lessons learned from the previous projects. In this initial phase, the selection of the team or the consultant office that will perform this feasibility study is important.