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.

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>

Research into the Dependency of the Flame-Retardant Textile Safety Index on the Fibre Content

10.12737/2547 ◽  
2014 ◽  
Vol 8 (1) ◽  
pp. 40-47
Author(s):  
Анна Савинова ◽  
Anna Savinova ◽  
Юрий Тюменев ◽  
Yuriy Tyumenev ◽  
Татьяна Чернышова ◽  
...  
Keyword(s):  
Flame Retardant ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Analysis Data ◽  
Fibre Content ◽  
Water Repellent ◽  
Safety Index ◽  
Gas Industry ◽  
New Generation ◽  
The Impact

Employment in the oil and gas industry, due to the specifics of work, is fraught with explosion and fire. One of the ways to protect the employees is the use of new generation special-purpose flame-retardant wear. The article at hand provides the results of research into the dependency of flame-retardant textiles safety index on the fibre content. The objective of the research was to identify the impact of the fibre content of oil-and-water-repellent-impregnated flame-retardant textiles on the tailored properties. The task of the researchers was to conduct a comparative analysis of the objects of research against various indices, and with the analysis data in mind determine the consumer product ID preferences in the market of special-purpose high-temperature/fire/oil-refined-product-protective wear.

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.

RECENT TRENDS IN PROJECT FINANCE FOR THE OIL AND GAS INDUSTRY

1988 ◽  
Vol 28 (1) ◽  
pp. 360
Author(s):  
M. Henschke
Keyword(s):  
Financial Markets ◽  
Oil And Gas ◽  
Risk Mitigation ◽  
Equity Markets ◽  
Oil And Gas Industry ◽  
Project Finance ◽  
Gas Industry ◽  
Project Assessment ◽  
Crude Oil Prices ◽  
Recent Trends

The oil and gas industry has gone through an extremely difficult period in the last two years. The decline in crude oil prices of early 1986 caused great uncertainty concerning the future of the industry. As those uncertainties receded, the October 1987 collapse in equity markets resulted in new volatility in financial markets for all industries.Growth and innovation in capital markets in recent years have resulted in a broader range of alternatives for funding of project financings being available to a wider range of companies. Increased competition among banks has also impacted the costs of borrowing. Overall, the benefits for borrowers are increased flexibility and lower costs of funds.Project finance for the oil and gas industry is as important a tool as ever. From both borrowers' and lenders' viewpoints, its traditional elements of project assessment, and design and structuring of facilities are perhaps more important than ever. New approaches to risk mitigation are continually being sought. From a borrower's viewpoint, an important factor is the ability of banks to understand technical aspects of the industry and the elements of risk involved in new and existing projects.

scholarly journals Delay Impact of COVID-19 Pandemic on Malaysia's Oil and Gas Projects

2021 ◽  
Vol 9 (4) ◽  
Author(s):  
Hissein Djibrine Abdelrassoul ◽  
Zulhasni Bin Abdul Rahim
Keyword(s):  
Oil And Gas ◽  
Movement Control ◽  
Oil And Gas Industry ◽  
Mitigation Strategies ◽  
Mitigation Measures ◽  
Gas Industry ◽  
Importance Index ◽  
Essential Services ◽  
Information Delay ◽  
Control Order

COVID-19 pandemic has extremely affected people and businesses around the world. Oil and gas industry are not exempted, and negatively impacted by the unprecedent crisis of COVID-19. This pandemic has also caused delays in the oil and gas projects. In an attempt to control the spread of COVID-19, Malaysian government has introduced Movement Control Order (MCO) in the whole country to be closed and lockdown all premises except essential services to operate. This has resulted major delays in the project execution. Researchers have conducted studies to identify factors that causing project delays. Approximately 75 delay factors were found from previous studies and it revealed that most delay factors were not caused by COVID-19. In the current research, the delay factors due to COVID-19 were identified and some delay factors were found to have similarity with literature. Additionally, interview sessions were organized with oil and gas professionals involving in the oil and gas industry. Delay factors due to COVID-19 and mitigation strategies were identified from the interview sessions. Moreover, this result has used in the designing of survey questionnaire and distributed to project practitioners working in the oil and gas industry in Malaysia. 110 Oil and gas professionals include 52 Clients, 25 consultants, 23 contractors, 5 subcontractors and 5 vendors/suppliers have participated in the survey. Data collected from survey was analyzed and interpreted by means of median and Relative Importance Index (RII). Based on this information, delay factors and mitigation strategies were ranked according to their importance and impact to project. It is observed that the higher value of the RII the more critical cause or impact factor. Top seven (7) delay factors were identified and top seven (7) mitigation measures were proposed as recommendations for future implementation in the oil and gas project.

The moderating effect of project risk mitigation strategies on the relationship between delay factors and construction project performance

2016 ◽  
Vol 7 (3) ◽  
pp. 346-368 ◽  
Author(s):  
Suhaiza Zailani ◽  
Hazrina Aziz Md. Ariffin ◽  
Mohammad Iranmanesh ◽  
Soroush Moeinzadeh ◽  
Masoomeh Iranmanesh
Keyword(s):  
Risk Mitigation ◽  
Construction Project ◽  
Project Performance ◽  
Study Data ◽  
Mitigation Strategies ◽  
Negative Effects ◽  
Project Risk ◽  
Content Type ◽  
Risk Mitigation Strategies ◽  
The Relationship

Purpose This paper aims to explore the relationship between delay factors and construction project performance with respect to project risk mitigation strategies as moderators. Design/methodology/approach Random sampling was used to select the sample of the study. Data were gathered through a survey of 204 Malaysian construction companies. The data were analysed using the partial least squares technique. Findings The results indicate that environmental, resource and coordination issues negatively affect construction project performance. Project visibility and flexibility can mitigate the negative effects of both resource and coordination issues on project performance. Furthermore, supplier development can mitigate the negative effects of coordination issues. Practical implications The findings of the study will be useful for construction firms to complete construction projects timely, within a scheduled budget and with only minor defects if adopted. Originality/value This study is among the first to empirically test the moderating role of risk mitigation strategies on the relationship between delay factors and project performance in the construction industry.

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