scholarly journals PROJECT RISK AVOIDANCE AND PROJECT EXECUTION IN NIGERIA OIL AND GAS INDUSTRY [PENGHINDARAN RISIKO PROYEK DAN PELAKSANAAN PROYEK DI INDUSTRI MINYAK DAN GAS di NIGERIA]

2020 ◽  
Vol 15 (2) ◽  
pp. 171
Author(s):  
Ike Egboga ◽  
Gift Worlu
Keyword(s):  
Oil And Gas ◽  
Rank Order ◽  
Oil And Gas Industry ◽  
Risk Avoidance ◽  
Project Risk ◽  
Gas Industry ◽  
Rivers State ◽  
Oil And Gas Companies ◽  
The Relationship

<p>This study sought to examine the relationship between project risk avoidance and project execution in the Nigerian oil and gas industry. Specifically, the study examined the relationship between project risk avoidance and four components of project execution (budget, quality, schedule and scope) among 51 oil and gas companies operating in Rivers State, Nigeria. To achieve this objective, 102 managing executives were given questionnaires, with 82 questionnaires correctly filled and returned. Data obtained were analysed using mean scores and Spearman’s rank order correlation analysis. The study found that projects risk avoidance was positively and significantly related to all four components of project execution. The main implication of this finding is that oil and gas companies need to invest heavily in innovative technologies and processes that will enhance their ability to avoid risk, thus improving the quality of projects they execute.</p><p> </p><p><em><strong>Abstrak dalam Bahasa Indonesia.</strong>Studi ini berusaha untuk menguji hubungan antara proyek penghindaran risiko dan eksekusi proyek di industri minyak dan gas Nigeria. Secara spesifik, studi tersebut meneliti hubungan antara proyek penghindaran risiko dan empat komponen eksekusi proyek (anggaran, kualitas, jadwal dan ruang lingkup) di antara 51 perusahaan minyak dan gas yang beroperasi di Negara Bagian Rivers, Nigeria. Untuk mencapai tujuan ini, 102 eksekutif pelaksana diberikan kuesioner, dengan 82 kuesioner diisi dan dikembalikan dengan benar. Data yang diperoleh dianalisis menggunakan skor rata-rata dan analisis korelasi urutan peringkat Spearman. Studi tersebut menemukan bahwa penghindaran risiko proyek berhubungan positif dan signifikan dengan keempat komponen pelaksanaan proyek. Implikasi utama dari temuan ini adalah bahwa perusahaan minyak dan gas perlu berinvestasi besar-besaran dalam teknologi dan proses inovatif yang akan meningkatkan kemampuan mereka untuk menghindari risiko, sehingga meningkatkan kualitas proyek yang mereka jalankan.</em></p>

Pedagogical Subjectivity of Monitoring the Formation of Professional Readiness of Future Workers in the Oil and Gas Industry

2020 ◽  
Vol 8 (5) ◽  
pp. 3-8
Author(s):  
T. Danilova
Keyword(s):  
Professional Development ◽  
Professional Education ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Structural Components ◽  
Gas Industry ◽  
Professional Development Of Teachers ◽  
Relationship Of ◽  
The Relationship

The article considers a teacher as a subject of monitoring the professional readiness of future workers in the oil and gas industry, who has pedagogical subjectivity in its implementation. This quality of personality is characterized in the context of the teacher's monitoring competence. The structure of pedagogical subjectivity is determined by the features of professional readiness of workers in the oil and gas industry and its monitoring. It involves the relationship of theoretical, technological, and personal components. The article presents the results of a ascertaining experiment that established insufficient formation of structural components of pedagogical subjectivity in monitoring. The expediency of correcting the identified problem aspects and related professional development of teachers to monitor the professional readiness of future workers in the oil and gas industry is justified. It is assumed that the problem of their formation is characterized by industry specifics and is implemented by means of additional professional education.

scholarly journals COLLABORATIVE MANAGEMENT AND ORGANISATIONAL RESILIENCE: EVIDENCE FROM THE OIL AND GAS INDUSTRY OF A DEVELOPING ECONOMY

2021 ◽  
pp. 1-15
Author(s):  
Christiana ACHEBELEMA ◽  
◽  
Damiebi ACHEBELEMA ◽  
Keyword(s):  
Organizational Leadership ◽  
Oil And Gas ◽  
Rank Order ◽  
Oil And Gas Industry ◽  
Collaborative Management ◽  
Cross Sectional ◽  
Gas Industry ◽  
Quasi Experimental ◽  
Oil And Gas Firms ◽  
Rivers State

This study examined the link between collaborative management and organizational resilience in the oil and gas industry in Rivers State. The quasi-experimental and cross-sectional research designs were adopted. The population is made of 72 managers, supervisors, and HODs of oil and gas firms in Rivers State. The census technique was used for the sampling since the population is relatively small. The Spearman's Rank Order Correlation Coefficient (Rho) was used for the analysis with the aid of SPSS. It was concluded that a sound leadership climate can change the direction of any organization towards achieving its stated goals. This means a good leadership climate could induce high-level firm alliance. Organizational leadership climate is a composition variable that can be brought to bear in proffering varying solutions to the underlying issues in any organization. The outcome of this study resulted in the following recommendations: Collaborative management encourages positive bahaviours towards robustness. Hence, management ought to take decisional actions to increase awareness and improve productivity towards developing timely diverse solutions in handling organizational challenges. Collaborative management improves top-level decision-making to enhance resourcefulness. Therefore, management should encourage employees to make personal decisions about the disturbances and complex problems they face in their job towards preserving their position in the industry. Organizational leadership should build a climate designed to encourage robustness and resourcefulness as that will induce the needed growth towards its desired heights to foster resilience.

scholarly journals Project Risk Mitigation and Project Execution in the Nigeria Oil And Gas Industry

2021 ◽  
Vol 4 (2) ◽  
pp. 117-125
Author(s):  
Ike Egboga ◽  
Eniola Taiwo
Keyword(s):  
Oil And Gas ◽  
Risk Mitigation ◽  
Rank Order ◽  
Oil And Gas Industry ◽  
Analysis Data ◽  
Mitigation Strategies ◽  
Project Risk ◽  
Gas Industry ◽  
Risk Mitigation Strategies ◽  
Holistic Integration

The focus of this study is to examine the relationship between project risk mitigation and project execution in the Nigeria oil and gas industry. Specifically, the study examines the extent of contribution of project risk mitigation in realising project budget, quality, schedule and scope during execution. In pursuant of these objectives, survey research design was used. 102 questionnaires were administered to the Managing Directors or Chief Operating Officers and project or operations managers of the selected companies. Eighty two questionnaires were validly retrieved and used for data analysis. Data obtained were analysed mean and Spearman’s rank order correlation analysis. The study found that projects risk mitigation was significantly and positively related to project execution in terms of budget, quality, schedule and scope. The study therefore recommends that there should be a holistic integration and constant improvement of project risk mitigation strategies which will help improve the quality of projects executed in the Nigerian oil and gas industry.

ABOUT NECESSITY OF MATHEMATICAL MODELING OF THE BUSINESS PROCESS OF COST ESTIMATE CALCULATIONS IN THE CONSTRUCTION OF OIL AND GAS FACILITIES

2017 ◽  
pp. 139-145
Author(s):  
R. I. Hamidullin ◽  
L. B. Senkevich
Keyword(s):  
Mathematical Modeling ◽  
Quality Assessment ◽  
Business Process ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Construction Organizations ◽  
The Cost ◽  
Cost Of Construction

A study of the quality of the development of estimate documentation on the cost of construction at all stages of the implementation of large projects in the oil and gas industry is conducted. The main problems that arise in construction organizations are indicated. The analysis of the choice of the perfect methodology of mathematical modeling of the investigated business process for improving the activity of budget calculations, conducting quality assessment of estimates and criteria for automation of design estimates is performed.

EBITDA and DACF multipliers as an indicator of investment attractiveness of domestic vertically integrated companies

2021 ◽  
Vol 20 (4) ◽  
pp. 718-752
Author(s):  
Oleg V. SHIMKO
Keyword(s):  
Oil And Gas ◽  
Stock Exchange ◽  
Oil And Gas Industry ◽  
Financial Economic ◽  
Consolidated Financial Statements ◽  
Gas Industry ◽  
Debt Burden ◽  
Fixed Assets ◽  
Settlement Agreements ◽  
Oil And Gas Companies

Subject. The article addresses the EV/EBITDA and EV/DACF ratios of the twenty five largest public oil and gas corporations from 2008 to 2018. Objectives. The purpose is to identify key trends in the value of EV/EBITDA and EV/DACF ratios of biggest public oil and gas corporations, determine factors resulted in the changes over the studied period, and establish the applicability of these multipliers for assessing the business value within the industry. Methods. I apply methods of comparative and financial-economic analysis, and generalization of consolidated financial statements data. Results. The study revealed that EV/EBITDA and EV/DACF multiples are acceptable for valuing oil and gas companies. The EV level depends on profitability, proved reserves, and a country factor. It is required to adjust EBITDA for information on impairment, revaluation and write-off for assets that are reported separately from depreciation, depletion and amortization costs, as well as for income or expenses arising after the sale of fixed assets and as a result of effective court decisions or settlement agreements. It is advisable to adjust DACF for income, expenses and changes in assets and liabilities, which are caused by events that are unusual for oil and gas companies. Conclusions. The application of EV/EBITDA and EV/DACF multiples requires a detailed analysis and, if necessary, adjustments of their constituent components. However, they are quite relevant in the context of declining profitability and growing debt burden in the stock exchange sector of the global oil and gas industry.

scholarly journals Empirical analysis of inbound open innovation and SMEs performance: Evidence from oil and gas industry

2018 ◽  
Vol 21 (1) ◽  
Author(s):  
Yusuf O. Akinwale
Keyword(s):  
Financial Performance ◽  
Open Innovation ◽  
Measurement Errors ◽  
Structural Equation ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Petroleum Sector ◽  
External Actors ◽  
The Relationship

Background: This article contributes to existing literature by examining the relationship between inbound open innovation and firms’ financial performance in the Nigerian oil and gas industry. Aim: This article seeks to identify the factors of inbound open innovation and whether these factors influence the financial performance of small and medium-sized enterprises (SMEs) in the Nigerian oil and gas industry. Setting: This article examines 150 indigenous oil and gas SMEs in the upstream subsector of the Nigerian petroleum sector through a survey, using a questionnaire, conducted in 2015. Methods: The study applied the structural equation modelling (SEM) method. This method is used to test the relationships between the factors and to calculate the measurement errors in the hypotheses formulated. Results: The results show that technology scouting, vertical technology collaboration (VTC) and horizontal technology collaboration (HTC) positively and significantly contribute to inbound open innovation, which are thus significant in influencing the financial performance of SMEs. The size of technical staff and research and development (R&D) fund allocations also have a positive and significant correlation with the SMEs’ financial performance. Meanwhile, the age of SMEs is negative and not significant in influencing financial performance. Conclusion: The results suggest that inbound open innovation through scouting, HTC and VTC should therefore be encouraged among SMEs to boost their internal capabilities, which have hitherto enhanced their financial performance. The management members of each SME should continually consider collaboration with the external actors because they cannot singularly possess all the innovative skills required in the industry. Also, each firm should commit itself to allocate more funds to R&D and at the same time should hire those who have relevant production skills and train the existing ones in their firms.

scholarly journals EVOLUTION OF THE QUALITY OF HIGH-PRESSURE VALVES DURING THE PERIOD OF THEIR INTENSIVE DEVELOPMENT

2021 ◽  
Vol 05 (01) ◽  
pp. 04-10
Author(s):  
Sabir Babaev ◽  
Ibrahim Habibov ◽  
Zohra Abiyeva
Keyword(s):  
High Pressure ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Machine Building ◽  
High Rate ◽  
Performance Criteria ◽  
Gas Industry ◽  
Evolution Of Technology ◽  
Intensive Development

Prospects for the further development of the oil and gas industry are mainly associated with the development and commissioning of high-rate fields. In this regard, the production of more economical and durable equipment by machine-building enterprises, an increase in the level of its reliability and competitiveness, as well as further improvement of technological production processes, is of paramount importance. The evolution of technology in a broad sense is a representation of changes in designs, manufacturing technology, their direction and patterns. In this case, a certain state of any class of TC is considered as a result of long-term changes in its previous state; transition from existing and applied in practice vehicles to new models that differ from previous designs. These transitions, as a rule, are associated with the improvement of any performance criteria or quality indicators of the vehicle and are progressive in nature. The work is devoted to the study of the evolution of the quality of high-pressure valves during the period of their intensive development. Keywords: technical system, evolution of technology, high-pressure valves, shut-off devices, gate.

Assessment of Conflict Management in Niger Delta and Implications for Sustainable Development of Oil and Gas in Nigeria

2021 ◽  
Author(s):  
Humphrey Otombosoba Oruwari
Keyword(s):  
Conflict Management ◽  
Niger Delta ◽  
Oil And Gas ◽  
Ecological Factors ◽  
Oil And Gas Industry ◽  
Negative Effects ◽  
Gas Industry ◽  
Secondary Sources ◽  
Positive Elements ◽  
Oil And Gas Companies

Abstract Nigerian oil and gas industry have over the years witnessed incessant conflicts between the stakeholders, particularly the host communities in Niger Delta region and the oil and gas companies in partnership with the Federal Government. Conflict which is here defined as manifestation of disagreement between individual and groups arising from differing and mutually incompatible interests has both positive and negative effects depending on how it was managed. Managing conflicts is all about limiting the negative aspects. The study examined conflicts management in Nigeria oil and gas industry and how best the positive elements of conflicts can be maximally exploited for the mutual benefit of both oil and gas company and the host communities in Niger Delta. The study adopted the multidisciplinary approach, literature review, case study and relied on secondary sources using analytical method of data analysis. The study findings revealed that the major factors that precipitate conflicts between the oil and gas industry and host communities in Niger Delta include economic, social, political, and ecological factors. There are available strategies that can be used in conflict management. These include avoiding, accommodating, or smoothing, competing, or forcing, compromising, and collaborating. Any of these strategies can be used to manage conflict depending on the situation, the environment factor, and the nature of the conflict. The problem is that the oil and gas companies in partnership with the Nigerian government often adopted the wrong approach in dealing with the conflict with host communities, using avoiding or forcing strategies. The study recommends collaboration strategy which ensues long term-term solution to mutual benefits.

Applying asset-and equity-based multipliers in the valuation of oil and gas corporations

2021 ◽  
Vol 27 (1) ◽  
pp. 129-167
Author(s):  
Oleg V. SHIMKO
Keyword(s):  
Oil And Gas ◽  
Stock Exchange ◽  
Balance Sheet ◽  
Oil And Gas Industry ◽  
Comparative Approach ◽  
Consolidated Financial Statements ◽  
Gas Industry ◽  
Market Capitalization ◽  
Economic Analyses ◽  
Oil And Gas Companies

Subject. This article explores the ratios of the company's market capitalization and value to the balance sheet value of assets and equity of the twenty five leading public oil and gas companies between 2008 and 2018. Objectives. The article aims to identify key trends in the changes in market capitalization and value ratios of the company to the balance sheet value of assets and equity of the largest public oil and gas companies, identify the factors that have caused these changes, and establish the applicability of these multipliers to estimate the value of the business within the oil and gas industry. Methods. For the study, I used comparative, and financial and economic analyses, and generalization of materials of the companies' consolidated financial statements. Results. The article establishes that the multipliers studied are acceptable for assessing the value of oil and gas companies, but it is preferable to use asset-based ratios. Conclusions and Relevance. The overall decline in profitability and the increase in debt load in the stock exchange sector of the global oil and gas industry should be taken into account when using multipliers based on assets and shareholder capital in the assessment of the value of oil and gas corporations through a comparative approach. The results of the study can be used to assess the possible value of oil and gas assets as part of a comparative approach and develop measures to increase the market capitalization of public oil and gas companies.

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