Fuzzy TOPSIS Evaluation of Economic Risks for Oil and Gas Projects
Subject Areas : Industrial Management
Farzad Firouzi Jahantigh
1
(Department of Industrial Engineering, Sistan And Balouchestan University)
Gholamreza Esmaeilian
2
(Department of Industrial Engineering, Payam Nour University)
Mohammad Iman Hezavehi
3
(Department of Industrial Engineering, Payam Nour University)
Keywords:
Abstract :
Recession in developing countries forces authorities to set policies to mitigate financial risks. These types of risks comprise of inflation, energy, cash flow, finance, money in project perspective. The main goal of this research is to identify some significant financial risks of EPC projects in petroleum and gas industry and to evaluate and prioritize based on the well-known fuzzy TOPSIS model. A case study in a refinery project with the national domain is taken into account. Importance in given projects emerges from heavy investment, the capacity of refineries in GDP2 and the role of petroleum in country development. In this research first, risks are categorized and extracted by interviewing with the experts at different levels of authority, then at second stage risk prioritization according to the proposed model is done. Finally, our model is compared to the other models in the literature to depict its improvement.
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