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 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 (firstname.lastname@example.org).
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!