Abstract
| Original language | English |
|---|---|
| Pages (from-to) | 3047-3061 |
| Journal | International Journal of Production Research |
| Volume | 53 |
| Issue number | 10 |
| Early online date | 17 Oct 2014 |
| DOIs | |
| Publication status | Published - 2015 |
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Keywords
- upstream crude oil
- joint venture formation
- partner selection
- goal programming
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Joint venture formation and partner selection in upstream crude oil section : Goal programming application. / Sahebi, H.; Nickel, S.; Ashayeri, J.
In: International Journal of Production Research, Vol. 53, No. 10, 2015, p. 3047-3061.Research output: Contribution to journal › Article › Scientific › peer-review
TY - JOUR
T1 - Joint venture formation and partner selection in upstream crude oil section
T2 - Goal programming application
AU - Sahebi, H.
AU - Nickel, S.
AU - Ashayeri, J.
PY - 2015
Y1 - 2015
N2 - In the past three decades, the magnitude of business dynamics has increased rapidly due to increased complexity, uncertainty and risk of international projects. This fact made it increasingly tough to ‘go alone’ into the international projects. As a consequence, companies with diverse strengths and weaknesses cooperatively bid for joint ventures (JV) formation. Joint venture is also a well-established aspect of the crude oil industry, specifically in the upstream segment. Making decision on the optimal form of JVs is still a challenging problem. In addition, the success of a JV is intertwined with the accuracy of the partner selection phase. Therefore, this paper formulates a multi-criteria mathematical model to select the best partners and form an optimal JV for undertaking oilfield projects. The lexicographic goal programming technique is employed to minimise undesirable deviations from diverse goals such as resources needs (technological and expertise), budgetary requirements, time, etc. The model is validated with a real-life-based example and provides insightful views on alternative formats of cooperation.
AB - In the past three decades, the magnitude of business dynamics has increased rapidly due to increased complexity, uncertainty and risk of international projects. This fact made it increasingly tough to ‘go alone’ into the international projects. As a consequence, companies with diverse strengths and weaknesses cooperatively bid for joint ventures (JV) formation. Joint venture is also a well-established aspect of the crude oil industry, specifically in the upstream segment. Making decision on the optimal form of JVs is still a challenging problem. In addition, the success of a JV is intertwined with the accuracy of the partner selection phase. Therefore, this paper formulates a multi-criteria mathematical model to select the best partners and form an optimal JV for undertaking oilfield projects. The lexicographic goal programming technique is employed to minimise undesirable deviations from diverse goals such as resources needs (technological and expertise), budgetary requirements, time, etc. The model is validated with a real-life-based example and provides insightful views on alternative formats of cooperation.
KW - upstream crude oil
KW - joint venture formation
KW - partner selection
KW - goal programming
U2 - 10.1080/00207543.2014.970708
DO - 10.1080/00207543.2014.970708
M3 - Article
VL - 53
SP - 3047
EP - 3061
JO - International Journal of Production Research
JF - International Journal of Production Research
SN - 0020-7543
IS - 10
ER -