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Billing Fraud and How to Spot them

11th January 2019
Fraud

Estimated reading time: 3 minutes   Billing Fraud and How to Spot them   Combating procurement fraud is vital due to the disastrous impacts’ procurement fraud brings. In Southeast Asia, procurement fraud costs US$140billion each year. Nearly all organisations will have been victims of procurement fraud and the consequences can be much greater than the value of the fraud. The most common types of fraud include kickbacks and bribes, bidding, variation abuse, billing, undisclosed interest, contract specifications and personal interest. Here is a list of the most common procurement fraud schemes: Bribes and Kickbacks Collusive Bidding by Contractors Change Order Abuse Co-Mingling...

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Understanding Commissioning of Offshore Oil and Gas Projects

10th January 2019
Offshore Commissioning

Estimated reading time: 3 minutes Understanding Commissioning of Offshore Oil and Gas Projects Project commissioning is the process of assuring that all systems, components and processes of an industrial plant are according to the operational requirements of the owner or final client. This includes process verification and documenting that the facility and all its system components and assemblies are designed, installed, tested and operated to meet the project requirement of individual units and systems. A commissioning process may be applied not only to new projects but also to existing units and systems subject to expansion, renovation or revamping.   The...

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Why Attend a Training Course with Opus Kinetic?

7th January 2019

While there are many training providers out there, a good training provider is able to understand and customise the training course according to your needs. When choose a training provider, look out for one that is led by a subject matter expert who has a deep understanding of the industry and topic at hand. Avoid generalised course agendas and ensure that the learning materials provided are relevant and up to industry standards.   ​Here at Opus Kinetic, we ensure we provide quality, well-researched courses that sets us apart from the rest. ISO certified training provider ISO: 29990:2010 accredited The International...

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Why Are Cost Controls & Scheduling Important for a Project’s Success?

21st December 2018
project management

Estimated reading time: 4 minutes   Why Are Cost Controls & Scheduling Important for a Project’s Success? The foundation of project management involves managing costs and scheduling. They are strategic elements to ensure efficiency and profitability, and successful integration of project schedule and cost will ensure project success. Scheduling projects allows your projects to be completed in a timely, quality, and financially responsible manner. To keep projects on track, set realistic time frames, assign resources appropriately and manage quality to decrease product errors.   Budgeting 80% of project costs and schedules are underestimated during the planning process. The two most...

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Top 5 Best Oil and Gas Training Companies in Singapore

20th December 2018
Oil and Gas Training Masterclass

Opus Kinetic Oil and Gas Training Masterclass The Oil and Gas industry has always been playing an important role in everyday’s life. However, with the emergence of new sources, business models and companies, significant changes in the industry can be observed. As international demands for the products of oil and gas industry soars to a new height each year coupled with the challenges faced currently, it is crucial that the professionals in the Oil and Gas industry recognizes the need of keeping up with the advancements through learning and self-improvements to ensure competencies and be equipped with a competitive advantage....

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Understanding A Contractor’s Capabilities and Readiness to Perform

19th December 2018
Oil Rig Plant

Estimated reading time: 3 minutes Contract and contractor management for maintenance and turnaround management of process plants   Refineries, petrochemical plants and power plants are all major investments. Ongoing care and maintenance of the assets can involve up to 50% of the initial capital investment over the life of the plant. Increasing use of process plants by contractors is used to so support the maintenance and turnarounds of the plants, and contractors are developing specialised and focused capabilities. A good relationship between the clients and contractor is a win-win situation for both parties. The use of contractors to support maintenance...

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10 Skills to be a Successful International Project Manager in 2018

13th December 2018

Estimated reading time: 5 minutes 10 Skills to be a Successful International Project Manager in 2018   As project managers advance in their careers, getting certified in the field adds more credibility to their title and experience. Project management certifications are in demand and in the competitive and complex market, project management certifications hold a vital role in ensuring you stand out from the competition and increase your chances of getting hired. Some of the main reasons why you should get a certification as an international project manager include increased demand, acquire a unique set of skills and increased chances...

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Managing Human Failures for Human Factors Engineering

12th December 2018
Human Factors Engineering

Estimated reading time: 5 minutes Human Factors Engineering for Oil & Gas   Everyone can make errors no matter how well trained and motivated they are. However, in the workplace, the consequences of such human failure can be severe. Analysis of accidents and incidents shows that human failure contributes to almost all accidents and exposures to substances hazardous to health. Many major accidents were initiated by human failure. In order to avoid accidents and ill-health, companies need to manage human failure by properly integrating human factors in preparation for safety case. When preparing for safety case assessment, there is a...

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What is the impact of fraud and corruption in your organization?

11th December 2018
Risk

Estimated reading time: 3 minutes Combating Procurement Risk and Fraud Combating procurement fraud is vital due to the disastrous impacts’ procurement fraud brings. In Southeast Asia, procurement fraud costs US$140billion each year. Nearly all organisations will have been victims of procurement fraud and the consequences can be much greater than the value of the fraud. The most common types of fraud include kickbacks and bribes, bidding, variation abuse, billing, undisclosed interest, contract specifications and personal interest. For private sector organisations, successfully tackling fraud can boost profits by several percentage points. For governments, tackling procurement fraud effectively can boost its reputation, thus, attracting more...

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Importance of Data Management in the E&P industry

4th December 2018
E&P industry

Estimated reading time: 5 minutes   Historically, data collection has played a huge role in the Exploration and Production (E&P) industry. Data collection from various tools such as instruments, sensors, computer software and hand-written notes are important for conducting effective and efficient operations. Daily data collection can range from a few terabytes to a few petabytes, depending upon the phase of oil well life cycle and the complexity and modernity of the oil field. The predominant goal of the E&P industry is to produce maximum oil at the lowest cost possible with the highest degree of safety for all stakeholders....

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