Sahebi,H.Nickel,S.Ashayeri,J.2025-02-012025-02-012015Sahebi, H, Nickel, S & Ashayeri, J 2015, 'Joint venture formation and partner selection in upstream crude oil section : Goal programming application', International Journal of Production Research, vol. 53, no. 10, pp. 3047-3061. https://doi.org/10.1080/00207543.2014.9707080020-754310.1080/00207543.2014.970708https://hdl.handle.net/20.500.14602/62464In 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.enginfo:eu-repo/semantics/restrictedAccessupstream crude oiljoint venture formationpartner selectiongoal programmingArticleGeneral rights Copyright and moral rights for the publications made accessible in the public portal are retained by the authors and/or other copyright owners and it is a condition of accessing publications that users recognise and abide by the legal requirements associated with these rights. - Users may download and print one copy of any publication from the public portal for the purpose of private study or research. - You may not further distribute the material or use it for any profit-making activity or commercial gain - You may freely distribute the URL identifying the publication in the public portal" Take down policy If you believe that this document breaches copyright please contact us providing details, and we will remove access to the work immediately and investigate your claim.https://www.scopus.com/pages/publications/849252711535129016https://research.tilburguniversity.edu/en/publications/753ff628-1dcd-489c-94d0-e635a8b322bb(c) Universiteit van TilburgSahebi, H.Nickel, S.Ashayeri, J.