A conceptual model for project management of exploration and production in the oil and gas industry: The case of a Brazilian company |
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Authors: | Jesus Leodaly Salazar-Aramayo Roseane Rodrigues-da-Silveira Mariana Rodrigues-de-Almeida Tereza Neuma de Castro-Dantas |
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Affiliation: | 1. Programa de Pós-Graduação em Ciência e Engenharia do Petróleo, Universidade Federal do Rio Grande do Norte, Av. Salgado Filho, 3000, Natal, RN, Brazil;2. Pós-Graduação em Engenharia de Produção, Universidade Federal do Rio Grande do Norte, Av. Salgado Filho, 3000, Natal, RN, Brazil |
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Abstract: | The objective of this study was to obtain a better understanding of factors that influence Exploration and Production (E&P) project management success and corporate financial performance. The study follows structural equation modeling (SEM) methodology to achieve greater understanding of the intricate network of relationships between variables involved in E&P project management. A comprehensive theoretical framework was needed to formulate the conceptual basis of research. Observation of the real world and practical experiences were also important. To that end, we conducted a case study in a large Brazilian oil company. Field research was essential because of the lack of similar studies in the oil and gas sector. The model developed is a theoretical construct known as a structural and measurement model (set of latent variables, observed variables and hypotheses, depicted in a path diagram). This model contributes significantly to the company because it is a global representation of the main factors for improving E&P project management. However, the findings should be interpreted with caution because adjustment and validation of the theoretical model were not performed. |
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Keywords: | Project management success Project success Project inter-dependencies Exploration and production Oil and gas industry |
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