Project Management Institute is set to spotlight its global certifications at the 23rd NOG Energy Week to provide energy sector professionals access to advanced project management training and development.
A statement by PMI noted that the oil, gas, and energy sectors involve complex, large-scale projects requiring meticulous planning, execution, and control with high risks and multiple stakeholders.
PMI said that project management would provide a structured approach to minimise risks, optimise resources, and enhance performance in such sectors.
“As the sector advances with environmental and regulatory changes alongside technological advancements, proficient project management becomes crucial. Emerging trends like energy transition, GenAI, and low-carbon alternatives underscore the need for skills in proactive risk management, strategic planning, and effective communication,” the statement said.
It noted that these skills are crucial across the entire value chain from exploration and production to refining, processing, construction, and offshore installations. Project managers oversee these phases to streamline processes, minimize delays, and reduce costs effectively.
The Managing Director of PMI, George Asamani, said, “Project management is the cornerstone of success in managing the complexities of the oil and gas sector. With projects becoming increasingly ambitious, our globally recognised certifications ensure that project managers are equipped to meet the challenges of tomorrow, today, guiding projects from conception through completion with efficiency.”
Asamani highlighted that geopolitical dynamics, macroeconomic trends, stricter regulations, and new technologies shape 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 further mentioned that the global energy sector employs more people today than it did in 2019, primarily driven by growth in clean energy, which now provides more jobs than fossil fuels. Since 2022, total employment in the energy sector has risen to nearly 67 million, an increase of 3.4 million.
According to the World Energy Employment 2023 report, most of these new jobs are in construction and manufacturing.
“Globally, wasteful expenditure in the construction sector amounts to $127m on every $1bn spent on projects. Our research of project management professionals in the construction sector found that 70 per cent of projects experience scope creep, and 73 per cent are over budget. The PMI-Construction Professional certification was designed to help construction professionals improve margins in the industry often plagued by cost overruns and project delays and is our first industry-specific solution.
“Construction is a critical component of energy projects, requiring precise coordination and management. Certifications ensure that project professionals are equipped to handle the complexities of construction-heavy projects, mitigating risks, managing resources effectively, and ensuring safety standards are upheld,” Asamani added.