| According to information and data analysis from the International EnergyAgency (IEA), the offshore oil and gas reserves accounted for34%of the total globalamount of resources and only a proven rate of30%at present that shows the offshoreexploration is still at its early stage. The offshore abundant resources have let theworld once again set its sights on the marine oil treasure-house. The statistics has alsopresented that, in2009, the offshore oil and gas production accounted for32%of theworld’s total oil and gas production that proportion is expected to reach40%by2020.Nowadays, the exploration and development of offshore oil resources have becomethe focus areas of the world’s oil and gas exploration.The coastal shelves of China are located on circum-Pacific geo-structure withabundant oil and gas reserves; it is estimated the China’s offshore oil and gasresources could be amounted to tens of billion tons. As the second largest country ofthe global oil consumption, China’s dependence on imported crude oil has overtaken50%since2011. With neighboring countries in recent years continue to encroachupon or erode China’s offshore oil and gas resources, we see the imminence toaccelerate the development of offshore oil exploration and production.However, the offshore oil and gas exploration and development commonlyrequires huge capital investment adhering with great uncertainties and risk. Tostrengthen the control of investment risk and ensure the decision-making is scientificand viable, the oil&gas enterprises are required to conduct comprehensive technicalfeasibility study, extensive commercial evaluation under condition of a professionalmanagement system to run business. It can be concluded that the successes ofoffshore oil and gas development project is relying not only on the advancedtechnologies but also energy enterprises’ management system for project execution.This research starts with a comprehensive analysis of characteristics of theoffshore oil and gas projects, and has reviewed the common issues and problem in theindustry. It continues to explore and compare various project management modelsadopted by IOC (international oil companies) and national oil companies; withanalysis and reviews of all problems on Penglai Phase I, and the detail introduction ofPenglai Phase II project’s scale&complexity, the research recognized the essentialityand urgency for a professional project management model for Penglai Phase II project.This article takes the Penglai Phase II M-platform project development as a study case, introduced the Capital Project Management System’s (CPMS) and comprehensivestudies implemented during the FEED engineering. In this paper, the professionalproject management model CPMS has contributed and secured the success of Penglaioilfield development which is the current largest offshore joint-ventured oilfield inChina offshore, it has also provided a project execution model for national energycompanies to work with international oil and gas companies when they are escalatingthe pace in developing oil&gas filed abroad, furthermore, it is a valuable examplefor China energy companies to improve their business model on self-run projects inpursuit of scientific development. |
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