SPECIFICS OF PROJECT MANAGEMENT IN OIL AND GAS COMPANIES

Abstract

The project approach is integrated into all sectors of the modern economy. Using new management technologies, companies develop and implement projects that allow them to develop and transform their own business processes. A project should be understood as a professional activity that represents a set of documentation that ensures implementation of a number of activities for the formation or creation of new products, works and services, subject to restrictions on the time budget and performance standards. Each project is project-or product-oriented. This shows up from the perspective of the management process, emphasizing the importance of the team and the distribution of responsibilities during its implementation. Moreover, each project is accompanied by resource potential, which includes: materials, time, people and finances. Managing these elements is the essence of project management, since it makes it possible to distribute them and form implementation stages. Oil and gas companies are also actively implementing project methodologies, using solutions that improve management processes and increase implementation effectiveness. The specificity of project management in the oil and gas sector lies in the complexity of the technological process and management within industry companies. In addition, oil and gas companies are characterized by extensive structures involved in the development, production and refining of oil, which places higher demands on the use of the project approach. The article is aimed at studying the main aspects related to the project activities of modern oil and gas companies, determining their effectiveness and feasibility of application. The purpose of the article is to develop measures to improve the quality of project management in oil and gas companies.