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Oil & Gas Management: SR Limited Add in library

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Question:

Describe about the facing various problem related to their field size, location, finance and coordination with their employees of SR limited?

 

Answer:

Executive Summary

SR limited is an oil and gas exploration and production company and there exploration activities are performed on number of fields. In present years company is facing various problem related to their field size, location, finance and coordination with their employees. SR limited main business partner is Boring holes US, they perform many activities jointly. But recently on apache field SR limited and Boring Holes US has to stop their exploration activity as suddenly military attacked on them. There are several recommendation mentioned in report for SR limited board, as a management consultant of orgnaiztaion.

1. Introduction

The report is all about one of the oil and gas exploration and production organization as SR Limited major challenges and the steps which SR limited management took regarding the problems. As mentioned in case study the problems faced by SR Limited some of the recommendations are given which may help management of SR limited to recover from such problems in future. SR limited is associated with both production and exploration of oil and gas without affecting the surroundings and environment (Haerens, 2010). The major problems which organization is facing is regarding ethical, production, exploration, licensing, outsourcing their products and while drilling field for extraction of oil and gas. As mentioned by Anderson (n.d.), both oil and gas are natural fuel and are extracted from under earth, so the SR limited while performing their drilling and final production task they have to consider environment and surrounding safety (Inkpen and Moffett, 2011). SR Limited after extracting and reefing the final product outsource it so to maintain a proper work environment within the organization they have work in a hierarchy so that no step is missed out while production of oil and gas. As commented Chaudhry (2004), to work properly organization has to maintain a proper relation with their society, people involves employees, customers and other living in surroundings, government people and other sub organizations as well as partners. The recommendation mentioned in this report is regarding the problems mentioned in case study which are barriers in production and exploration of oil and gas.

 

2. Major Challenges faced by SR Limited

Haerens (2010) commented that while production and exploration SR limited faced several problems which sometimes acted as barrier in their production and exploration cycle. The major problems while production and exploration of oil and gas which SR limited mangers faced were regarding financial condition and support, ethics, rules and regulation followed by SR limited within workplace, location of their fields and other political bodies interference while  business cycle. As stated by Inkpen and Moffett (2011), to run a organization proper financial structure and support is very important but in case of SR limited as mentioned in case study organization management was not ready to provide proper amount for drill test of new  fields for oil and gas exploration which increased the problem among both field employees and management. On the other hand, while testing fields for production of oil and gas SR limited was having mismatch in thoughts and recommendation regarding size of field, length of drilling, expenditure required for whole process and other. As mentioned by Jacoby (2012), to maintain the sustainability of oil and gas in all old as well as new fields SR limited did not planned strategies which as mentioned in case study effected their business cycle. As mentioned in case study SR limited while business have to face several ethics problems which are as their employees sometimes due to dissatisfaction from work and workplace environment stopped working or decided to stop drilling, exploration and production work until management fulfill their needs and requirements. Kolosova (2011) also commented to work under the rules and regulations of country law regarding the industry every organization should have proper corporate social responsibility as it helps organization to maintain their business as per the rules and regulations so that any act of their business cycle is never against the rules and social responsibilities. SR limited as stated in case study was having separate corporate social responsibility department who only work for the marinating the rules and regulation of the organization taking into consideration all constitutional laws of the country (Kramer and Fusaro, n.d.). As SR limited was outsourcing their products so to maintain a proper relation with their business partners they were supposed work in ethical way but as mentioned organization management was lacking in ethics and norms regarding their employees as well as their business cycle (Kolosova, 2011). As discussed in case study when are apache field both SR limited and Boring Holes started working for oil and gas production but after some time due to military attack work was stopped, this situation represents the bad coordination among the organization and local bodies. Kramer and Fusaro (n.d.) mentioned that to run a business successfully organization has to coordinate and consider the local bodies, local citizens and etc. SR limited as oil and gas industry has three business processes which are important for them as upstream, midstream and downstream (Romanova and Kotov, 2014). If any oil and gas exploration business cycle has to be successfully run then all three functions are important as upstream deals with exploration of oil and gas, midstream deals with production of final product from obtained raw oil and gas product (Inkpen and Moffett, 2011). On the other hand, downstream deals with the activities like outsourcing final product to other organizations. In contrast to this, Lebedko (2014) stated SR limited was facing problem regarding their coordination between employees and management which sometimes affected their production and exploration process of oil and gas.

 

3. Analysis of problems faced by SR Limited

Romanova and Kotov (2012) stated that the main factor behind all the above mentioned problems of SR limited are the mismanagement among internal and external elements which are very important for running a business. When SR limited applied for getting license for their 4th oil and gas exploration field but due to supply of insufficient finance they did not received license for oil and gas drilling. As stated by Rusco (2009), if organization do not supply proper amount of finance then their business process and functions will be affected definitely. . As stated in case study the reason behind all problems is mis management in SR limited organization which sometimes became barrier in their production and exploration process. Oil and gas are naturally extracted i.e. they are extracted under earth but in case of SR limited due to their insufficient finance and mis-coordination among their field employees and management their many fields function were stopped (Kramer and Fusaro, n.d.). SR limited was facing several problems regarding their outsourcing and in sourcing functions due to internal and external factors as employees, management, ethics, finance, partnership , business environment and their policies. As commented by Rusco (2009), to start a new business process every organization should have proper business plan in case of SR limited as mentioned in case study there was lack of proper business plan which resulted in poor finance result (Lebedko, 2014). The other main reason behind closure of SR limited work in apache field was bad coordination among organization and local bodies. SR limited as an oil and gas exploration and production organization was having problem in maintain their raw materials sustainability due to which in future there may face problem regarding production of oil and gas. SR limited was facing several problems regarding their field size for drilling test which was initial step of exploration of oil (Lebedko, 2014). As stated in case study SR limited was having problems regarding ideas and thoughts with the local government bodies as well as their employees (Rusco, 2009). The problem which SR limited faced while drill testing was due to their management and employees, they both were having different thoughts and ideas which make organization unable in drill testing the field for exploration of oil and gas (Lebedko). SR limited is a production and exploration organization of two main natural resources, so to maintain the sustainability of production of oil and gas organization should have a proper sustainability plan as well as production plan. As mentioned by Savaresi (2012), SR limited if would have provided with a good amount for their drilling test for 4th field, they would be earning more profit in comparison of other competitors

 

4. Recommendation

With expertise in oil and gas exploration and production and a management consultant in SR limited list of some recommendations are as the very think on which SR limited should work is their financial planning , as it is main element to run every part of business cycle. SR limited mangers should always keep spare amount in case of any uncertainty or risk if occurs (Rusco, 2009). The coordination or relation with local and national government bodies so that all business process performed by them are under rules and regulations (Romanova and Kotov, 2014). The management of SR limited should always plan their business process by considering their employees, other local bodies as well as their surroundings. Management should work on their risk management plan and strategies related to their employees’ welfare as performance reward and etc. Sharaev and Pavlyuchenko (2012) mentioned that to improve workforce performance management of organization should try to plan rewards and strategies in favor of their employees’ welfare so that it increases their performance as well as company’s benefit. While planning any new strategy or working system they should consider their employees, stakeholders, surrounding and environment. As stated by Singh (2010), to run a business in profitable condition every SR limited should have long term and short term planning considering their employees, business environment and other factors. Long term planning of SR limited if planned properly it will help organization in increasing their profit share in comparison of their competitors (Romanova and Kotov, 2014). In case of SR limited also they are not having any risk management or plan which if in future they face any problem regarding business process or any other function can be solved with the help of risk management plan (Rusco, 2009). On the other hand, short term planning helps in getting profits in small business cycles. SR limited managers should always consider their employees and peer feedback regarding work environment, working style, culture and other factors (Sharaev and Pavlyuchenko, 2014). Oil and gas production done by SR limited should always follow a proper hierarchy as well as ethical way so that society and environment is not affected by their functions. The main motive of oil and gas exploration and production organization should always be to motivate their employees by providing them different rewards and appraisals. As said by Sorrentino et al. (2012) if employees are influenced in proper manner by using positive strategies organization performance will automatically be increased. SR limited should provide their employees proper security at the work place as it is stated in case study that many employees were scared working with SR limited after apache field incident. While SR limited and Boring holes in US where working together suddenly military attacked there which make both organization stop their work (Romanova and Kotov). Management of SR limited should have proper coordination and relation with local and national government bodies so that in future there is no disturbance. SR limited managers should try to interact their employees regularly so that if employees are facing any problem it can be recognized and solved out. As mentioned by Tarnoczi and Driver (2012) outsourcing decreases the work load of organization but on the other hand it increases the level of risk while operation

 

5. Conclusion

SR limited functional area is oil and gas exploration and production as stated by Sharaev and Pavlyuchenko (2014) to make their business run in profitable condition management should plan strategies and working system by considering their employees, stakeholders, peers and government suggestion and feedback. As stated in case study article 2 major banks rejected to assign loan for expanding the exploration of oil and gas, according to bank it will increase organization expenses and on the other hand loan debt will also be increased on organizations. As commented by Savaresi (2009) all major banks focus on balancing the want for nation economy will help in increasing job and development of nation. As commented by Tarnoczi and Driver (2012), major element on which oil and gas exploration and production is dependent is their stakeholders, employees, demand of product in market, sustainability of the raw materials used in production of oil and gas, so as management consultant of SR limited the most important recommendation for them is to build such a plans and strategies which influence their employees to perform better and work in a team with their respective managers.

 

Bibliography

Anderson, G. (n.d.). Oil & gas in federal systems.

Chaudhry, A. (2004). Oil well testing handbook. Amsterdam: Elsevier/Gulf Professional.

Haerens, M. (2010). Oil. Farmington Hills, Mich.: Greenhaven Press/Gale, Cengage Learning.

Inkpen, A. and Moffett, M. (2011). The global oil & gas industry. Tulsa, Okla.: PennWell.

Jacoby, D. (2012). Optimal supply chain management in oil, gas, and power generation. Tulsa, Okla.: PennWell Corp.

Kolosova, O. (2011). Problems of salaries management in oil and gas companies. EoR, pp.167-175.

Kramer, A. and Fusaro, P. (n.d.). Energy and environmental project finance law and taxation.

Lebedko, A. (2014). Scope of state involvement in the management of oil and gas complex. OGBUS, (1), pp.397-411.

Romanova, T. and Kotov, D. (2014). A Modern Approach To Personnel Management In The Oil And Gas Sector Of The Russian Federation. OGBUS, (6), pp.562-587.

Rusco, F. (2009). Federal oil and gas management. [Washington, D.C.]: U.S. Govt. Accountability Office.

Rusco, F. (2009). Oil and gas management. [Washington, D.C.]: U.S. Govt. Accountability Office.

Savaresi, S. (2012). Automatic-Control Challenges in Future Urban Vehicles: A Blend of Chassis, Energy and Networking Management. Oil & Gas Science and Technology – Revue d’IFP Energies nouvelles, 67(4), pp.633-645.

Sharaev, N. and Pavlyuchenko, V. (2014). Improvement Of The Pump Equipment When Carrying Out Technological Operations On The Arlansky Field In Oil And Gas Extraction Management “Arlanneft”. OGBUS, (6), pp.424-434.

Singh, A. (2010). Strategies for oil and gas companies to remain competitive in the coming decades of energy challenges.

Sorrentino, M., Arsie, I., Di Martino, R. and Rizzo, G. (2010). On the Use of Genetic Algorithm to Optimize the On-board Energy Management of a Hybrid Solar Vehicle. Oil & Gas Science and Technology, 65(1), pp.133-143.

Tarnoczi, T. and Driver, K. (2014). Navigating Canada's greenhouse gas policy landscape: a comparison of carbon market mechanisms in the oil and gas sector. Greenhouse Gas Measurement and Management, pp.1-27.

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