Given the international nature of the oil and gas industry, AXELOS Global Best Practice is urging the implementation of a cross-organizational project management culture for the industry.
This, Mike Acasater, AXELOS PPM portfolio manager, says will help the oil and gas exploration industry to successfully manage growth and change management initiatives. Acaster adds, that 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.
Acaster pointed to the successful implementation of project management processes by a major exploration and production (E&P) 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.
“The case study illustrates the importance of organizations thinking carefully about their context and tailoring the generic best practice approaches accordingly,” Acster says. “The framework introduced by the business has received 100 percent positive feedback from staff development in product-based planning.”
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 percent 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.
“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*,” Acster says. “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 full case study can be found at this link: Axelos-Case-Study-2012
* 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.htmlTags: Axelos, E&P, Project Management