Engineering and construction projects for oil and gas processing facilities: Contracting, uncertainty and the economics of information
Engineering and construction projects for oil and gas processing facilities: Contracting, uncertainty and the economics of information
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DOI：
10.1016/j.enpol.2007.02.027
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发表时间：
2007-08
期刊：
影响因子：
9
通讯作者：
Kees Berends
中科院分区：
文献类型：
--
作者：
Kees Berends
满足未来 20 年需求所需的石油和天然气加工能力是过去几十年实现的能力的两倍多。工程和施工承包商 (EC) 在这些设施的大型工程和施工项目 (LECP) 的开发和实施中发挥着关键作用。我们研究了 LECP 的特征、承包市场的需求和供给，以及业主传统上将这些项目的开发和实施外包给 EC 所采取的策略。我们证明，在当前的“卖方市场”中，这些传统策略不再有效地缓解寡头垄断经济的低效率。由于承包市场的“过热”预计将持续相当长一段时间，因此需要替代的承包策略。契约理论，特别是 LECP 的信息经济学，表明了如何使用替代契约策略来克服经济效率低下的问题。这些替代策略的有效使用需要增加业主的参与，其有效性取决于业主的能力和作为业主代理人而不是其对手的 EC。这将需要所有者和执行委员会双方进行组织和行为变革流程。
The amount of oil and gas processing capacity required to meet demand during the next 20 years is more than twice the amount realised during the last decades. Engineering and Construction contractors (ECs) play a key role in the development and implementation of Large Engineering and Construction Projects (LECPs) for these facilities. We examine the characteristics of LECPs, demand and supply of the contracting market and the strategies traditionally adopted by owners to contract out the development and implementation of these projects to ECs. We demonstrate that these traditional strategies are not longer effective, in the current ‘sellers market’, to mitigate the oligopolistic economic inefficiencies. As the ‘overheating’ of the contracting market is expected to continue for a considerable period of time, alternative contracting strategies are required. Contract theory, particularly the economics of information on LECPs, indicates how alternative contracting strategies can be used to overcome economic inefficiencies. The effective use of these alternative strategies requires increased owner involvement and their effectiveness is contingent upon owner competency and ECs acting as the owner's agent rather than its adversary. This will require an organisational and behavioural change process for both owners and ECs.