Rock, Paper, Scissors
A Case Study on complementing cost-savings with strong governance and capital discipline
A recent survey* of 9 FPSO projects identified a combined 38% cost overrun totaling $2.5bn in wasted capital. One of the identified causal factors behind this dead-weight additional capital was “a lack of clarity regarding contract responsibilities”.
8over8 presented a case study where efficiency gains were generated in the world’s first FLNG project by implementing a proven system of strong governance and commercial discipline. The result was connected decision making and reduced incidence of conflict and claims amongst stakeholders in the world’s first FLNG project.
*Source: Douglas Westwood“ FPSO Industry at a Crossroads”- An Industry Whitepaper
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