How value assurance drives successful delivery of oil and gas capital projects

The level of risk associated with delivering large-scale oil and gas capital projects is ka_faÕ[Yfl\m] lgì] k[ Yd] $[ gehd] palqYf\af`]j] flmf[] jlYaflqYkkg[aYl ] \oaì l `] e& >gjdYj_] $ fgn] dhjgb][ lk $ l ` ] j ] Yj ] ka_faÕ [ YfljakcklgnYdm ] Ykkg [ aYl ] \oaì ghlaearaf_ concept selection and front-end design. Thereafter , the management of change becomes critical due to the large knock-on impact any changes may have on detailed design. Across the globe , we are observing a number of trends , such as :  The increasing need for " mega-projects " is forcing companies to enter into multiple-party ventures due to capital constraints. While this serves to mitigate a proportion of capital risk , complex stakeholder requirements can make decision-eYcaf_Yf\ [ ` Yf_ ] eYfY_ ] e ] fl\a^Õ [ mdl&  These " mega-projects " are often reliant on new technology operating just within the margin of current capability , and therefore front-end design makes assumptions around technical capability that may not fully transpire.  9_dgZYd\ ] Õ [ alafkcadd ] \ ` meYf [ YhalYd $ aehY [ laf_ì ] imYdalqYf\k [ ` ] \mdaf_ of project delivery. This applies to operators and service companies alike as experienced personal continue to retire , while at the same time projects are becoming ever more complex. The end result for some organizations can be the inability of their projects to meet the \ ] dan ] jq ] ph ] [ lYlagfkk ] lgmlafì ] Zmkaf ] kk [ Yk ] $ o ` a [ ` \aj ] [ ldqaehY [ lkì ] ÕfYf [ aYd and reputational health of the business. It is , therefore , important to have the appropriate value assurance system in place , with the supporting tools , processes and resources to protect against these increasing levels of risk and assist in enhancing project performance. At EY , we are committed to helping some of the world ' s most reputable and leading oil and gas organizations deliver their capital projects safely , on time and to budget , _anaf_ [ gfÕ\ ] f [ ] Yegf_klYc ] ` gd\ ] jkYf\k`Yj ] ` gd\ ] jkYdac ] &Oaì afì ak\g [ me ] fl $ we explain how the application of value assurance and the relevant frameworks and risk management models can enable your …