Carbon Energy Club - Why oil & gas mega projects consistently run over time and budget

As a proud partner, Strand Associates Consulting has the privilege of inviting oil & gas professionals to Carbon Energy Club’s Annual Assembly on December 8.

What to expect

A report by global consultancy company EY reveals that almost two thirds (64%) of multi-billion dollar, technically and operationally demanding mega projects continue to exceed budgets, with three quarters (73%) missing project schedule deadlines. The report - "Spotlight on oil & gas mega projects" - examines the performance of 365 mega projects and the impact on the oil & gas industry of these overruns.

On average, current project estimated completion costs were 59% above the initial estimate. In absolute terms, the cumulative costs of the projects reviewed for the report has increased to US$ 1.7 trillion from an original estimate of US$ 1.2 trillion, representing an incremental increase of US$ 500 billion... Now add to this a "lower for longer" oil price and it's easy to see that this could have major consequences for the whole oil & gas industry, including the supply chain!

This is the theme for our Annual Assembly on December 8 where we will welcome Mr. Chris Pateman-Jones, Global Sector Resident - Advisory Oil & Gas at EY and co-author of this report.

More information

More information is to be found on www.inpoleposition.be (click on Carbon Energy Club) or by contacting P.J. Provoost, Director of the Carbon Energy Club (pieter-jan.provoost@agoria.be).

Upon registering you can uniquely benefit of the Carbon Energy Club member privilege (first person free of charge).

We are looking forward to meeting you on December 8!

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