LNG projects: Risk management framework for Oman LNG

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Table of Contents

CHAPTER 01: INTRODUCTION1

Outline of the Study1

Background of the Study1

Purpose of the Study2

Aims and Objectives2

Ethical Considerations3

Risk Management Framework4

Risks Faced by LNG Companies5

Oman LNG6

CHAPTER 03: METHODOLOGY8

Research Method8

Mixed Method Research8

Rationale for Methodology9

Secondary Data9

Quantitative and Qualitative Data9

Connecting the Data10

Data Collection Method11

Sample Selection11

CHAPTER 01: INTRODUCTION

Outline of the Study

This dissertation will be divided into different chapters. The first chapter will present an introduction of the topic. The introduction chapter will include a background of the study, aims and objectives, purpose of the study, and ethical considerations. The second chapter will present a literature review. The literature review will discuss risk framework, risks in oil and gas sector, and other relevant concepts. The third chapter will present the methodology that will be adopted for this research. The third chapter includes the methodology that has been chosen to carry out the research along with sample selection. In the fourth chapter, findings and discussion will be presented. Finally, the dissertation will be concluded in the fifth chapter. The fifth chapter will conclude the dissertation, providing implications and useful recommendations for further research..

Background of the Study

There is a vast drive and energy in diverse industries and social norms as to actualize risk administration in organisations. It is believed that risk cannot be wiped out but ought to be minimised. Therefore, it can be comprehended that risk administration is the genuine framework for making adjustments in order to avoid the occurrence of disasters and uncertainties. Risk administration involves decision making in situations that have high risks and far reaching uncertainties. Risk management also involves the anticipation of the consequences of decisions made in an organisation (Al Sayyad, 2005, pp. 134).

In order to assess and manage risks, different risk management devices are used for uphold decision making in such situations, case in point risk and easily proven wrong matter examines, risk gripping criteria, expenditure-benefit examines, and cost-reasonability dissects.. These devices have certain limitations, and are dependent upon different suspicions and suppositions, and their utilisation is fabricated not as for test data, but in addition on quality judgments combining ethical, strategic and political concerns. Some of the tests related to the suggested devices are: evaluation of uncertainties and task of probabilities, determination of respectable qualities for sums case in point a statistical being and the markdown rate, to distinguish betwixt destination info and subjective judgements, solution of uncertainties and the system of supervising with intangibles. There is a need for setting direction and a structure for decision making in scenarios incorporating high risks and astonishing uncertainties. The focus might as well be to obtain a certain level of consistency in decision making and trust in getting required outcomes. Such direction and structure exist to some degree, but it is important that there is a potential for up gradation in various respects (Bahgat, 2010, pp. 162).

Purpose of the Study

This study aims to identify and analyse a risk management framework for Oman LNG. The oil and gas sector is characterised with diverse ...