Investigation into the Current Project Risk Management Practices within the Libyan Oil and Gas Industry

Elhoush, R and Kulatunga, U 2017, Investigation into the Current Project Risk Management Practices within the Libyan Oil and Gas Industry , in: The 6th World Construction Symposium 2017, 30th June-2nd July, Sri Lanka.

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Abstract

The continued increase in the world’s population means increasing global energy demands. Hydrocarbons will be the main contributor to meet these energy needs. However, the oil and gas projects are linked with significant risks. The literature shows that many projects in the industry fail as a result of improper risk management practices in place. This research paper focuses on Libya as a case, as Libya is an important player in fulfilling the world’s energy demands, as well as the importance of the industry to the country’s economy. With the existing situations in Libya, appropriate project risk management for the oil and gas industry needs to be prioritised. The aim of the paper is to investigate the current project risk management practices in oil and gas industry in Libya. Thirteen semi-structured interviews with top managers, project engineers and advisors were utilised to achieve this aim. Findings show that the awareness of the concept is still very low and that there is a lack of project management culture and project risk management in particular. The paper also demonstrates that although these practices are applied to some extent, there is no written systematic procedure for the process, instead the application of these practices relies on the prior knowledge and experience of the individual. The lack of financial resources and the shortage of experienced and qualified personnel due to the country’s current situation and lack of clear organisational vision, all limit the implementation of effective project risk management in the oil and gas industry in Libya

Item Type: Conference or Workshop Item (Paper)
Schools: Schools > School of the Built Environment > Centre for Urban Processes, Resilient Infrastructures & Sustainable Environments (UPRISE)
Depositing User: Dr Udayangani Kulatunga
Date Deposited: 27 Jun 2017 10:18
Last Modified: 08 Aug 2017 11:13
URI: http://usir.salford.ac.uk/id/eprint/42765

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