In the past two years, more than $400 billion-worth megaprojects have been postponed, re-phased, re-cycled or cancelled: it is unlikely that any of them will ever feature in the future energy landscape.
Yet this is potentially a good thing. Over the span of the previous decade, the majority of oil and gas megaprojects have landed more than two years late and more than 60 per cent over budget. The industry may well have saved itself a further $200bn or more in wasted capital. Change is necessary and overdue.
Large investment bets in megaprojects are now too high a risk in a world of increasing energy efficiency.
A structural change in projects is therefore required from volume to efficiency via a three-point framework of portfolio philosophy, screening realism and system changes, and five key actions to deliver more efficient projects.
In the course of this webinar, we will outline:
. An understanding of oil and gas project performance over the past decade, and rationale
. Greater appreciation of the role of structural vs managerial issues involved
. Insight to how the world of energy competition and oil price is creating a major change in project direction
. Potential solutions and direction of project management required now for success in the future
As 8over8’s CEO, Clare Colhoun has over 20 years of diverse experience in capital project intensive markets and has driven profitable company growth since December 2000. Prior joining 8over8, Clare held executive positions in strategic planning and Finance in global blue chip businesses.
Harry Benham is a seasoned Oil & Gas professional with over thirty years’ industry experience in contract management across a wide range of disciplines. In the last 15 years, Harry managed some major upstream projects at BP in the UK and Azerbaijan, Shell Prelude and Browse FLNG and was the Head of Discipline at BP and Shell.