Identification of Factors Causing Time and Cost Overruns in Offshore Petroleum Modification Projects

Abstract : Many of the production facilities and technologies operated on the Norwegian Continental Shelf are getting older and need to be modified to maintain the production performance at the desirable level. Each modification project is unique, and therefore needs to be evaluated and verified with consideration to all specifications. However, the oil and gas industry experience shows that the execution of modification projects within predefined time and cost are rather an exception, than a rule. In this paper we identify and discuss some of the factors that cause time and cost overruns in offshore facility modification projects. Furthermore, we discuss alternative cost methods to improve the quality and the accuracy of costs and time assessments.
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Jan Frick; Bjørge Timenes Laugen. International Conference on Advances in Production Management Systems (APMS), Sep 2011, Stavanger, Norway. Springer, IFIP Advances in Information and Communication Technology, AICT-384, pp.268-275, 2012, Advances in Production Management Systems. Value Networks: Innovation, Technologies, and Management. 〈10.1007/978-3-642-33980-6_31〉
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Dina Kayrbekova, Tore Markeset, Sukhvir Panesar. Identification of Factors Causing Time and Cost Overruns in Offshore Petroleum Modification Projects. Jan Frick; Bjørge Timenes Laugen. International Conference on Advances in Production Management Systems (APMS), Sep 2011, Stavanger, Norway. Springer, IFIP Advances in Information and Communication Technology, AICT-384, pp.268-275, 2012, Advances in Production Management Systems. Value Networks: Innovation, Technologies, and Management. 〈10.1007/978-3-642-33980-6_31〉. 〈hal-01524208〉

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