Mapping Delay Risks of EPC Projects: A Case Study of A Platform and Subsea Pipeline of An Oil and Gas Project

More than 80% of oil and gas projects around the world experience delays, which may result in huge financial implications to the contractors and the owners. Therefore, it is important to manage delay risks factors to meet the target of project completion dates. The purpose of this study was to map delay risk factors of Engineering, Procurement, Construction (EPC) projects using a case study of a platform and subsea pipeline of an oil and gas project. Data was collected through observations and analysis of project documents, and interviews with respondents in managerial and engineer levels. A total of 28 delay risk factors was identified and quantified in terms of their probabilities and impacts. This research found 1 extreme risk (4%), 15 high risks (54%), 11 medium risks (39%) and 1 low risk (4%). The top five risk factors include, i.e. contractor's financial capability, delay in delivery of long-lead items, changes in the project scopes, delay of detailed engineering design (DED), lack of experience of contractors. These findings are beneficial for contractors and owners of oil and gas projects to understand delay risks better and to formulate risk mitigation strategies properly. (paper)