PMI highlights the role of project management in the oil sector

Project Management Institute will showcase its global certifications at the 23rd NOG Energy Week to provide energy professionals with access to advanced project management training and development.

The PMI statement said the oil, gas and energy sectors involve complex, large-scale projects that require meticulous planning, execution and control, are high-risk and involve multiple stakeholders.

PMI said project management would provide a structured approach to minimise risk, optimise resources and improve performance in these sectors.

“As the sector evolves with environmental, regulatory and technological changes, agile project management becomes essential. Emerging trends such as energy transition, GenAI and low-carbon alternatives highlight the need for proactive risk management, strategic planning and effective communication skills,” the statement reads.

These skills have been found to be key throughout the value chain, from exploration and production to refining, processing, construction and offshore installation. Project managers oversee these phases to streamline processes, minimize delays and effectively reduce costs.

PMI Managing Director George Asamani said: “Project management is the cornerstone of success in managing the complexities of the oil and gas sector. As projects become increasingly ambitious, our globally recognised certifications ensure that project managers are prepared to meet the challenges of tomorrow, today, leading projects from concept to completion with efficiency.”

Asamani emphasized that geopolitical dynamics, macroeconomic trends, stricter regulations and new technologies are shaping the energy landscape. Hiring certified project managers is crucial, as their expertise in strategic decision-making, risk management and adaptability is essential for the sector’s success.

He also mentioned that the global energy sector now employs more people than it did in 2019, largely due to the growth of clean energy, which now provides more jobs than fossil fuels. As of 2022, total energy employment has increased to almost 67 million, an increase of 3.4 million.

According to the World Energy Employment 2023 report, most new jobs will be created in construction and industry.

“Globally, wasteful spending in the construction sector amounts to $127 million for every $1 billion spent on projects. Our research of project management professionals in the construction sector shows that 70% of projects experience scope overruns and 73% run over budget. Designed to help construction professionals improve margins in an industry that is often plagued by cost overruns and project delays, the PMI-Construction Professional certification is our industry first.

“Construction is a critical part of energy projects that requires precise coordination and management. The certifications ensure that project professionals are prepared to handle the complexities of construction-intensive projects, mitigate risks, effectively manage resources and ensure compliance with safety standards,” Asamani added.