Identification and stakeholder responsibility mapping of contractual risk factors in oil and gas sector infrastructure projects using Delphi technique
The continuing demand for energy has led to the need for developing and improving the oil and gas infrastructure through the execution of various infrastructure capital projects in many parts of the world, including Pakistan. Oil and gas companies have vast experience implementing these infrastructure projects, yet many such projects face delays and cost overruns. This failure to meet project targets may be attributable to the lack of identifying and addressing the risks at the pre-execution stage in the contract documents. This study aims to identify the risks to address in the contract documentation developed for the infrastructure projects and allocate each factor to a particular stakeholder (Client, design consultant, legal consultant, and bidders) in Pakistan. Risks were identified through literature review and were validated using the Delphi technique applied through surveys. Twenty-four survey respondents were selected based on their qualifications and experience in Pakistan’s Oil and Gas sector. In the first round of the Delphi survey, the level of agreement authenticates the risks applicable to Pakistan's Oil and Gas sector. The level of agreement was reaffirmed in round two of the Delphi survey. It also included a check for stability of responses between rounds using the McNemar test. Results confirmed that sixty-one risk factors are the contractual risk for evaluation when developing contracts for Oil and Gas infrastructure projects in Pakistan.