Oil is getting hot. PDCs are coming back this fall. Happy days are here again folks -- Expat assignments, R&Rs, fat premiums, housing allowances yada yada..
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What ever you do in tengiz expansion XOM don't allow CVX to hold key positions. Long term chevron managers have years of poor experience. I work at Gorgon and boy XOM / Shell saving our ass
How they hold these PSGs is mind blowing.
XOM may not fund FGP. XOM Secondees must first fix all the CVX errors, then it will get funded. Try 2018. XOM needs the capex in South America and Mexico. Also, issues with GOK need to be solved first.
Fully agree with your comments@HA1ro5D-5oih. All EPCs are taking advantage of arrogant, overconfident, inexperienced PRC personnel and raping Chevron on every major capital project. KBR-Gorgon, Bechtel-Wheatstone and ALNG, Fluor/Worley on Tengiz FGP and an army of CVX contractors at the expense of staff employees and stockholders. CVX Staff have complete lack of respect and control once contracts implemented and organization charts endorsed and rolled out. Watson not in the trenches and getting too much filtered BS to fully understand the problem other than poor results
FID on FGP for 2016 (and probably 1H 2017) will be to just not NOT make a decision. Wall St would want to understand where $ is coming from if FID was approved and would want to understand the impact of not keeping the pulse on CVXs 1 in 8 bbls enterprise. Either way, bad news for stock price. Consequently, just keep on plugging along with detailed engineering and letting PJV/KPJV rape Tengizchevroil consortium. Time is running out before reservoir bubble point is reached and oil production will plummet. Don't own CVX or XOM stock by 2021.
@HA1ro5D, Don't kid yourself. Tengiz expansion was about to become the next Gorgon. Only saving grace is Exxon Management who recognized the weak, inexperienced CVX PRC team running the project and now staffing all key positions with seasoned XOM personnel.
FGP FID could still be delayed. Many geopolitical and fiscal hurdles with GoK.
Any info on PRC? I could not be more bored! Need something to do! I think our leadership grossly over estimated the project work load once the ESP was over. I anticipate more layoffs this time without the pretense of" ESP"
Wow, well guys we got our joke of the day!!! Too funny.
OP you are living in lala land. Did you perhaps miss a couple doses of your meds. If so I would suggest you get back to taking on a regular basis as prescribed.
CABGOC has been getting rid of mostly expats and a few nationals all year and continues to do so. CABGOC up for sale? CVX may choose not to be an operator, just a partner?
Not happening, big cuts are still coming. I'm on expat assignment and I've been informed I'll will be out of a job at years end. Tengiz is one of the shining stars in the Industry.
Negative.
Not going to happen. That might cut into my $80 million bonusand we can't have that.