Meeting/Event Information

    PMI Southwest - Project Appraisal and Sanction Process in the Oil and Gas Industry Prior to Recent Price Crash of 2014/2015

    January 17, 2018
    5:30 PM - 6:30 PM
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    Schlumberger - Sugar Land Campus
    210 Schlumberger Drive
    Sugar Land, TX 77478
     Directions

    If you will be attending this meeting, please register online. We are keeping attendance records online for PMI auditing purposes. Thanks!

    PMI Southwest Meeting Venue:


    George Frank
    Quanta Factors LLC 


    George Frank is consultant director of Quanta Factors LLC (and defunct Quantum Factors Services UK Ltd). He has extensive experience of over 18years spanning engineering design, maintenance and operations in the Upstream, Midstream and Downstream oil and gas sectors.

    He has both technical and project management experience working on various projects such as Yanbu Export Refinery (Saudi Arabia), Gassi Touil LNG plant (Algeria), Block B&52 – O Mon Gas Pipeline Project (Vietnam), CRX Pipeline (Angola), Saqqara Gas Plant (Egypt), Shwe &Shwe Phyu project (Myanmar), Pierce Field (Shell UK), Ettrick Field Pipeline (Nexen UK) and many more projects across the globe.

    He has worked directly or consulted all over the world for companies such as Halliburton, BHP Billiton, Bluewater Energy Services, ExxonMobil, Wood Group, BP, Shell, Talisman Energy, KBR and many more.

    He holds degrees in Corrosion Engineering and an MBA from University of Manchester and Manchester Business School (MBS) respectively in England, UK.

    Topic Description: Project Appraisal and Sanction Process in the Oil and Gas Industry Prior to Recent Price Crash of 2014/2015

    In the period leading up to the recent oil price crash in 2014/2015, capital raised worldwide for projects by the Oil and Gas industry amounted to an estimated $850 Billion between 2009 to 2013 (J. England, Deloitte Press, 2015). This was a gargantuan amount of money, following onto the triggering of the oil price crash of 2014/2015 some of these projects were either outrightly cancelled or deferred This presentation reviews the processes how Oil and Gas E&P companies appraised and sanctioned projects in the period prior to the crash.

    This presentation draws heavily on MBA thesis (Frank etal, MBS 2015) and other industry research papers. The presentation shows the critical criteria used by the oil and gas industry in the project appraisal process, how the appraisal process is carried out and what are the flaws (if any in the process). It then proffers/recommends what could be done to shore up Oil and Gas Industry project appraisal and sanction process to provide better and more reliable results for the industry and the global economy at large. 

    This Session Qualifies for: (delete the two that don't apply)
    Technical Leadership Strategic

     
    Location:
    Schlumberger Sugar Land Campus
    Forum Cafe
    210 Schlumberger Drive
    713-234-0550

    Click to View Map


    Professional Development Units (PDU) for PMI certified professionals:

    The introduction of the updated CCR system, has resulted in a much simpler procedure for claiming PDUs. As before, there are no specific PDU codes for events that award up to 2 PDUs. Each PMI Houston meeting with a 1-hour presentation, on a PM Talent Triangle topic, equals 1 PDU. (The category for each presentation will be indicated on the web-site)  This includes dinner meetings, pre-dinner meetings and meetings at any of PMI Houston's satellite venues.  If you attended both pre-dinner and dinner presentations, please submit 2 PDU claims following the process below for each presentation event.

    Procedure for getting PDU credit for PMI® Houston’s meetings towards the recertification of your PMI credential (PMP, PgMP, etc.):

    1. Go to www.pmi.org and log in using your pmi.org Username and Password.
    2. Select myPMI and click on “Report PDUs”
    3. Click on “Organization Meetings” and fill in the form.
    4. Organization Host " PMI Houston "
    5. Title  “Chapter Meeting”
    6. Meeting Number (Optional)  C012 (zero)
    7. Date Started Use Calendar to complete
    8. Date Completed Use Calendar to complete
    9. PDUs claimed - Enter 1, under the relevant category of the Talent Triangle. (Each 1 hr. presentation equals 1 PDU)
    10. Review the data entered, if correct click the box indicating "I agree this claim is accurate"
    11. Click Submit

    Save a copy for your records

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