We assessed the relevancy and the responsibility of British Petroleum (BP) with regard to a number of Variation Orders (VOs) put forward by them on this project.
We implemented an audit of these VOs by:
1. Performing a technical review of each set of VOs to establish if there was a justifiable technical/contractual basis for them that would have been acceptable to BP under the terms of the Production Sharing Agreement (PSA).
2. Performed a Fair Market Value assessment of each of the set of VOs using our cost expertise and NETCO$TER cost estimating software to ensure the costs charged were in line with expected market rates for goods and services at the time.
We developed a report based on our analysis which explained our conclusions, and which define costs that should be classified as non-recoverable under the terms of the PSA.