Innovative Approach to Minimize Risks during Implementation of International Oil and Gas (EPC/M) Projects

Authors: Mozhaev M.S. Published: 30.10.2013
Published in issue: #8(10)/2013  
DOI: 10.18698/2306-8477-2013-8-98  
Category: Economic and legal problems of engineering education | Chapter: Economics  
Keywords: engineering, EPCM-project, Engineering, Procurement, Contraction, Management, the EPC-contractor, Lump Sum Turn Key

This article focuses on minimizing risks in investment and construction projects by means of EPC/M - contracts. Departing from the traditional model of signing EPC/M, which is contracts on standard conditions, a flexible" form of convertible EPC/M contracts will be examined in this article. In addition, risk assessment for the model will be made.