Factors Influencing Oil and Gas Project Delivery in Nigeria: Cost Management Perspective

Asuquo Henry Okpo; Ukpong Nsemo Sylvester; Jima Offiong

doi:doi:10.11648/j.ijem.20230701.11

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Factors Influencing Oil and Gas Project Delivery in Nigeria: Cost Management Perspective

Asuquo Henry Okpo, Ukpong Nsemo Sylvester, Jima Offiong

Published in International Journal of Engineering Management (Volume 7, Issue 1)

Received: 28 January 2023 Accepted: 20 February 2023 Published: 17 May 2023

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Abstract

Overtime, cost management of construction projects in the Nigeria oil and gas sector has been branded inadequate with critical stakeholders standing aloof from offering requisite expertise to achieve efficiency. Based on pertinent lack of critical literature narrative about the practice of cost management in the oil and gas sector generally and in Nigeria specifically, this study evaluated the issues inhibiting cost management of oil refinery. Using a purposive sample size of 36 construction professionals in the oil and gas sector obtained through snowballing in Rivers state, Nigeria, structured questionnaire was employed to collect data that were analysed using mean item score and Chi-Square. The result revealed that issues dealing with low education, skills, estimating efficiency, non-involvement of core cost management professionals and change in scope as critical issues for affecting the efficiency of cost management in oil refinery construction projects. All the 25 factors evaluated were significant mean item scores (3.01 - 3.94) and the null hypothesis was rejected (p-values < 0.000) to show the consistency of the mean ranking. The study buttresses that inadequate cost management practice in the Nigerian oil and gas sector is due to this range of factors. Recommendations towards improving the state of cost management practice in the sector are directed towards the need to improve the validated barriers as precursors of inefficiencies in the sector.

Published in	International Journal of Engineering Management (Volume 7, Issue 1)
DOI	10.11648/j.ijem.20230701.11
Page(s)	1-8
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2023. Published by Science Publishing Group

Keywords

Cost Management, Cost Management Professionals, Barriers, Efficiency and Refinery

References

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APA Style

Asuquo Henry Okpo, Ukpong Nsemo Sylvester, Jima Offiong. (2023). Factors Influencing Oil and Gas Project Delivery in Nigeria: Cost Management Perspective. International Journal of Engineering Management, 7(1), 1-8. https://doi.org/10.11648/j.ijem.20230701.11

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ACS Style

Asuquo Henry Okpo; Ukpong Nsemo Sylvester; Jima Offiong. Factors Influencing Oil and Gas Project Delivery in Nigeria: Cost Management Perspective. Int. J. Eng. Manag. 2023, 7(1), 1-8. doi: 10.11648/j.ijem.20230701.11

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AMA Style

Asuquo Henry Okpo, Ukpong Nsemo Sylvester, Jima Offiong. Factors Influencing Oil and Gas Project Delivery in Nigeria: Cost Management Perspective. Int J Eng Manag. 2023;7(1):1-8. doi: 10.11648/j.ijem.20230701.11

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@article{10.11648/j.ijem.20230701.11,
  author = {Asuquo Henry Okpo and Ukpong Nsemo Sylvester and Jima Offiong},
  title = {Factors Influencing Oil and Gas Project Delivery in Nigeria: Cost Management Perspective},
  journal = {International Journal of Engineering Management},
  volume = {7},
  number = {1},
  pages = {1-8},
  doi = {10.11648/j.ijem.20230701.11},
  url = {https://doi.org/10.11648/j.ijem.20230701.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijem.20230701.11},
  abstract = {Overtime, cost management of construction projects in the Nigeria oil and gas sector has been branded inadequate with critical stakeholders standing aloof from offering requisite expertise to achieve efficiency. Based on pertinent lack of critical literature narrative about the practice of cost management in the oil and gas sector generally and in Nigeria specifically, this study evaluated the issues inhibiting cost management of oil refinery. Using a purposive sample size of 36 construction professionals in the oil and gas sector obtained through snowballing in Rivers state, Nigeria, structured questionnaire was employed to collect data that were analysed using mean item score and Chi-Square. The result revealed that issues dealing with low education, skills, estimating efficiency, non-involvement of core cost management professionals and change in scope as critical issues for affecting the efficiency of cost management in oil refinery construction projects. All the 25 factors evaluated were significant mean item scores (3.01 - 3.94) and the null hypothesis was rejected (p-values < 0.000) to show the consistency of the mean ranking. The study buttresses that inadequate cost management practice in the Nigerian oil and gas sector is due to this range of factors. Recommendations towards improving the state of cost management practice in the sector are directed towards the need to improve the validated barriers as precursors of inefficiencies in the sector.},
 year = {2023}
}

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TY  - JOUR
T1  - Factors Influencing Oil and Gas Project Delivery in Nigeria: Cost Management Perspective
AU  - Asuquo Henry Okpo
AU  - Ukpong Nsemo Sylvester
AU  - Jima Offiong
Y1  - 2023/05/17
PY  - 2023
N1  - https://doi.org/10.11648/j.ijem.20230701.11
DO  - 10.11648/j.ijem.20230701.11
T2  - International Journal of Engineering Management
JF  - International Journal of Engineering Management
JO  - International Journal of Engineering Management
SP  - 1
EP  - 8
PB  - Science Publishing Group
SN  - 2640-1568
UR  - https://doi.org/10.11648/j.ijem.20230701.11
AB  - Overtime, cost management of construction projects in the Nigeria oil and gas sector has been branded inadequate with critical stakeholders standing aloof from offering requisite expertise to achieve efficiency. Based on pertinent lack of critical literature narrative about the practice of cost management in the oil and gas sector generally and in Nigeria specifically, this study evaluated the issues inhibiting cost management of oil refinery. Using a purposive sample size of 36 construction professionals in the oil and gas sector obtained through snowballing in Rivers state, Nigeria, structured questionnaire was employed to collect data that were analysed using mean item score and Chi-Square. The result revealed that issues dealing with low education, skills, estimating efficiency, non-involvement of core cost management professionals and change in scope as critical issues for affecting the efficiency of cost management in oil refinery construction projects. All the 25 factors evaluated were significant mean item scores (3.01 - 3.94) and the null hypothesis was rejected (p-values < 0.000) to show the consistency of the mean ranking. The study buttresses that inadequate cost management practice in the Nigerian oil and gas sector is due to this range of factors. Recommendations towards improving the state of cost management practice in the sector are directed towards the need to improve the validated barriers as precursors of inefficiencies in the sector.
VL  - 7
IS  - 1
ER  -

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Author Information

Asuquo Henry Okpo

Department of Building Technology, School of Environmental Studies, Akwa Ibom State Polytechnic, Ikot Osurua, Nigeria
Ukpong Nsemo Sylvester

Department of Building Technology, School of Environmental Studies, Akwa Ibom State Polytechnic, Ikot Osurua, Nigeria
Jima Offiong

Department of Quantity Surveying, School of Environmental Studies, Akwa Ibom State Polytechnic, Ikot Osurua, Nigeria

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Plain Text BibTeX RIS

APA Style

Asuquo Henry Okpo, Ukpong Nsemo Sylvester, Jima Offiong. (2023). Factors Influencing Oil and Gas Project Delivery in Nigeria: Cost Management Perspective. International Journal of Engineering Management, 7(1), 1-8. https://doi.org/10.11648/j.ijem.20230701.11

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ACS Style

Asuquo Henry Okpo; Ukpong Nsemo Sylvester; Jima Offiong. Factors Influencing Oil and Gas Project Delivery in Nigeria: Cost Management Perspective. Int. J. Eng. Manag. 2023, 7(1), 1-8. doi: 10.11648/j.ijem.20230701.11

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AMA Style

Asuquo Henry Okpo, Ukpong Nsemo Sylvester, Jima Offiong. Factors Influencing Oil and Gas Project Delivery in Nigeria: Cost Management Perspective. Int J Eng Manag. 2023;7(1):1-8. doi: 10.11648/j.ijem.20230701.11

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@article{10.11648/j.ijem.20230701.11,
  author = {Asuquo Henry Okpo and Ukpong Nsemo Sylvester and Jima Offiong},
  title = {Factors Influencing Oil and Gas Project Delivery in Nigeria: Cost Management Perspective},
  journal = {International Journal of Engineering Management},
  volume = {7},
  number = {1},
  pages = {1-8},
  doi = {10.11648/j.ijem.20230701.11},
  url = {https://doi.org/10.11648/j.ijem.20230701.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijem.20230701.11},
  abstract = {Overtime, cost management of construction projects in the Nigeria oil and gas sector has been branded inadequate with critical stakeholders standing aloof from offering requisite expertise to achieve efficiency. Based on pertinent lack of critical literature narrative about the practice of cost management in the oil and gas sector generally and in Nigeria specifically, this study evaluated the issues inhibiting cost management of oil refinery. Using a purposive sample size of 36 construction professionals in the oil and gas sector obtained through snowballing in Rivers state, Nigeria, structured questionnaire was employed to collect data that were analysed using mean item score and Chi-Square. The result revealed that issues dealing with low education, skills, estimating efficiency, non-involvement of core cost management professionals and change in scope as critical issues for affecting the efficiency of cost management in oil refinery construction projects. All the 25 factors evaluated were significant mean item scores (3.01 - 3.94) and the null hypothesis was rejected (p-values < 0.000) to show the consistency of the mean ranking. The study buttresses that inadequate cost management practice in the Nigerian oil and gas sector is due to this range of factors. Recommendations towards improving the state of cost management practice in the sector are directed towards the need to improve the validated barriers as precursors of inefficiencies in the sector.},
 year = {2023}
}

Copy | Download

TY  - JOUR
T1  - Factors Influencing Oil and Gas Project Delivery in Nigeria: Cost Management Perspective
AU  - Asuquo Henry Okpo
AU  - Ukpong Nsemo Sylvester
AU  - Jima Offiong
Y1  - 2023/05/17
PY  - 2023
N1  - https://doi.org/10.11648/j.ijem.20230701.11
DO  - 10.11648/j.ijem.20230701.11
T2  - International Journal of Engineering Management
JF  - International Journal of Engineering Management
JO  - International Journal of Engineering Management
SP  - 1
EP  - 8
PB  - Science Publishing Group
SN  - 2640-1568
UR  - https://doi.org/10.11648/j.ijem.20230701.11
AB  - Overtime, cost management of construction projects in the Nigeria oil and gas sector has been branded inadequate with critical stakeholders standing aloof from offering requisite expertise to achieve efficiency. Based on pertinent lack of critical literature narrative about the practice of cost management in the oil and gas sector generally and in Nigeria specifically, this study evaluated the issues inhibiting cost management of oil refinery. Using a purposive sample size of 36 construction professionals in the oil and gas sector obtained through snowballing in Rivers state, Nigeria, structured questionnaire was employed to collect data that were analysed using mean item score and Chi-Square. The result revealed that issues dealing with low education, skills, estimating efficiency, non-involvement of core cost management professionals and change in scope as critical issues for affecting the efficiency of cost management in oil refinery construction projects. All the 25 factors evaluated were significant mean item scores (3.01 - 3.94) and the null hypothesis was rejected (p-values < 0.000) to show the consistency of the mean ranking. The study buttresses that inadequate cost management practice in the Nigerian oil and gas sector is due to this range of factors. Recommendations towards improving the state of cost management practice in the sector are directed towards the need to improve the validated barriers as precursors of inefficiencies in the sector.
VL  - 7
IS  - 1
ER  -

Copy | Download