Building a High Performance Culture in a New Oil and Gas Joint Venture

2015 ◽  
Author(s):  
Marwah Al Saad
Keyword(s):  
High Performance ◽  
Joint Venture ◽  
Oil And Gas ◽  
Performance Culture

BUILDING CULTURAL CAPITAL IN THE AUSTRALIAN OIL AND GAS INDUSTRY

2004 ◽  
Vol 44 (1) ◽  
pp. 771
Author(s):  
L. Doig ◽  
R. Griffiths ◽  
J. Robertson
Keyword(s):  
High Performance ◽  
Joint Venture ◽  
Oil And Gas ◽  
Cost Savings ◽  
Oil And Gas Industry ◽  
Business Case ◽  
Middle Level ◽  
Gas Industry ◽  
Adaptive Challenges ◽  
Barriers To Growth

One of the key barriers to significant cost-savings and harnessing opportunities for growth in the Australian oil and gas industry is lack of trust, openness and misalignment between companies, among teams and among individuals.In research undertaken for APPEA’s Australian Competitive Energy (ACE) initiative over the last three years, one of the top three barriers to growth continually cited by senior and middle level managers has been culture and behaviours. Examples include misalignment between operators and contractors, management and the workforce, joint venture partners, industry and government, and the industry and the community.In the next five years, the Australian oil and gas industry is facing a skills shortage, technically challenging projects with less people and adaptive challenges. Adaptive challenges (Heifetz and Laurie, 2000) are ones where the:problems and solutions are unclear;the solution does not work through command and control;requires a new way of thinking and acting; andrequires the entire organisation to be engaged.Examples of adaptive challenges for our industry are:finding new gas markets;exploration in sensitive areas;high rig mobilisation costs for a small market; andretaining a skilled workforce.These challenges require companies to find new ways of:Attracting and keeping talented people;Increasing profits and shareholder value; andIncreasing creativity and productivity.Adaptive challenges can be achieved by building cultural capital.This paper outlines:Research and feedback from Australian Operations Managers, Supply Managers, Project Managers and Drilling Managers about the need for improving the culture and behaviours;The business case for why building a high performance culture is considered the competitive advantage of the 21st century;How to measure culture including the diagnostic tool used for the CEO workshop;Results from the diagnostic of the CEO group and implications;andHow to move forward individually, as companies and as an industry.The purpose of this paper is to foster debate and discussion about developing a high performing culture in the Australian oil and gas industry. We intuitively know that valuing our people makes good business sense. To transform the industry’s culture, it is not the organisations that transform, but the people. Shifting the culture requires leadership, courage and commitment from the industry’s senior management.

A method of technical diagnostics for offshore structures

1994 ◽  
Vol 16 (2) ◽  
pp. 43-48
Author(s):  
Do Son
Keyword(s):  
Diagnostic Method ◽  
Joint Venture ◽  
Oil And Gas ◽  
Residual Life ◽  
Life Time ◽  
Offshore Structures ◽  
Technical Diagnostics ◽  
Offshore Platforms ◽  
South Vietnam ◽  
Local Destruction

This paper describes the results of measurements and analysis of the parameters, characterizing technical state of offshore platforms in Vietnam Sea. Based on decreasing in time material characteristics because of corrosion and local destruction assessment on residual life time of platforms is given and variants for its repair are recommended. The results allowed to confirm advantage of proposed technical diagnostic method in comparison with others and have been used for oil and gas platform of Joint Venture "Vietsovpetro" in South Vietnam.

scholarly journals Indemnity and Insurance Clauses in Joint Venture, Farmout and Joint Operating Agreements

1970 ◽  
Vol 8 (2) ◽  
pp. 210
Author(s):  
D.O. Sabey ◽  
J.L. Fingarson
Keyword(s):  
Joint Venture ◽  
Oil And Gas ◽  
Oil And Gas Operations

Many oil and gas operations conducted under a joint venture agreement are accompanied by liabilities for losses and damages, and parties to the joint venture look to the agreement to determine responsibility for such liabilities. The indemnity clause is a common contractual method of allocating liability. In addition to a contractual indemnification, the party being indemnified takes a covenant from the indemnitor that he will obtain insurance against the risk of liability. This article discusses the use of indemnity and insurance clauses in joint venture agreements and analyzes the problems which are most often encountered in the drafting of indemnity and insurance clauses in joint venture agreements.

Step Change Transformation of Legacy Rigs to Autonomous Drilling Rigs

2021 ◽  
Author(s):  
Sergey Ziatdinov ◽  
Titto Thomas Philip
Keyword(s):  
Capital Investment ◽  
Business Performance ◽  
High Performance ◽  
Human Error ◽  
Oil And Gas ◽  
Business Environment ◽  
The Past ◽  
Automation Systems ◽  
Negative Effect ◽  
Drilling Rigs

Abstract During the past decade, drilling automation systems have been an attractive target for a lot of operating and drilling companies. Despite progress in automation in various industries, like mining and downstream, the drilling industry has lagged far behind in the real application of autonomous technologies implementation. This can be attributed to harsh environment, high level of uncertainty in input data, and that majority of stock is legacy drilling rigs, resulting in capital intensive implementations. In the past years there have been several attempts to create fully automated rigs, that includes surface automation and drilling automation. Such solutions are very attractive, because they allow people to move out of hazardous zones and, at the same time, improve performance. However, the main deficiency of such an approach is the very high capital investment required for development of highly bespoke rigs (Slagmulder 2016). And in the current business environment, with high volatility in oil and gas prices, plus the huge negative effect of the Covid-19 crisis on the world's economic situation, it would be hard to imagine that there are a lot of companies willing to make such a risky investment. In addition to this, due to the lack of demand, the market is full of relatively new, high-performance rigs. Taking all these into account, the obvious question is whether it makes sense to invest money and time into the development of drilling automation. The answer should be yes, for three substantial reasons:Automation improves personal safety, by moving people out of danger zones;Automation improves process safety, by transferring execution from person to machine, which reduces the risk of human error;Automation improves efficiency by bringing consistency to drilling and through the use of self-learning algorithms, which allow machines to drill each successive well better than the previous. This paper will not look into surface automation, such as pipe-handling, chemical and mud handling on site. The paper is focused on the subsurface, namely on the drilling automation process, the challenges that need to be overcome to deploy a vendor agnostic system on a majority of existing rigs. A vendor agnostic system is a modification of an operator's autonomous drilling system (Rassenfoss 2011), designed to use existing rigs, BHAs, and have minimum footprint on the rigs for operational use. A vendor agnostic system will increase adoption of automated technologies and further drive improvements in operational and business performance

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