Woodside Petroleum, Australia’s largest independent oil and gas company, has selected 8over8’s ProCon™ Platform to enhance the management of contracts across its portfolio of projects and operations.
ProCon enables owner operators of large capital projects to establish a commercial firewall against value leakage from mismanagement of unforeseen change orders, missed contractual obligations and poor interface management of the portfolio of capital project contracts. ProCon embeds discipline in the management of project contracts through standardisation of the language and terminology that underpin contractual communications, a comprehensive communication audit trail, and automated monitoring of obligations and risk. Actionable analytics and predictive insights give advance warning of potential overruns and change requests that require management attention.
“The delays and claims that blight large capital projects are costing billions of dollars at a time when the need for capital discipline has never been greater. We believe that Woodside will benefit from more streamlined commercial engagement with contractors, better connected decision making across the internal organisation on all contractual obligations, and a potential increase in the pro-active management of risk,” commented Clare Colhoun, CEO, 8over8.
Image courtesy of Woodside Petroleum.
Adapted from press release by Katie Woodward
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/29072014/woodside-petroleum-chooses-8over8-contract-management-1159/