The gas and oil exploration industry should implement a consistent, cross-organizational system of project management to successfully manage growth and change management initiatives, according to AXELOS Global Best Practice.
Mike Acaster, AXELOS PPM Portfolio Manager, said that the international nature of oil and gas enterprises, operating in many territories and across cultures, means they will increase their chances of successful project management if a common approach is embedded throughout the organization.
Dr Acaster pointed to the successful implementation of project management processes by a major exploration and production company, as outlined in a new AXELOS case study. The document describes how the organization introduced a framework to deliver greater focus on project delivery, using elements of a number of AXELOS’ best practice products, including ITIL®, PRINCE2®, MSP®, MoP®, M_o_R® and P3O®.
Dr Acaster said: “The case study illustrates the importance of organizations thinking carefully about their context and tailoring the generic best practice approaches accordingly. The framework introduced by the business has received 100% positive feedback from staff development in product-based planning.”
He added: “A consistent approach to project management is even more vital in the current climate, with reports suggesting that a drop in oil prices is set to have an impact on exploration projects in the North Sea*. Companies which experience unexpected changes in their long term project plans benefit from the checks and balances that a framework involving best practice products provides.”
The new AXELOS case study outlines how in 2012 the organization sanctioned a major E&P project, which will see the development of the sixth largest gas field in the southern North Sea. It is expected to contribute 5% to UK gas production at peak (due 2016) - supplying gas to the equivalent to 1.5 million homes in Britain. In the same year, the organization sanctioned two other smaller projects in the southern North Sea. These projects marked a step change for the organization, transforming from an exploration operator to an exploration, development and production operator.
* The Wood Mackenzie report (2014) published following a survey of approximately 400 oil workers operating in the North Sea. Reported by the Daily Telegraph: http://www.telegraph.co.uk/finance/oilprices/11341103/2-billion-of-North-Sea-oil-projects-at-risk.html
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