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Monday, November 25, 2013

Questions and Answers



Ten Slides Illustrating Ultra-Deepwater Drilling Trends

The ultra-deepwater market has been almost overlooked by the press and analyst community lately due to a laser-like focus on strong North American onshore activity trends. But the growth outlook remains robust, fleets are fully contracted, and contractors continue to build new rigs. While some deepwater projects have recently slipped to the right, these delays are more one-off in nature as deepwater exploration economics are compelling in today's price environment. Through the next ten slides, we'll take a look at activity trends and market conditions in the ultra-deepwater drilling market.

Slide 1: Plenty of Deepwater Value to Unlock in Mexico, but When?

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enter image description hereThis visual from Pareto Securities is one of the most compelling arguments we've seen in support of Mexican deepwater exploration. It shows how Gulf of Mexico deepwater infrastructure and exploration activity (the red areas) simply dissappear at the line of demarcation between the US and Mexican sides of the GOM. As geology cares not for political boundaries, this image suggests there may be great untapped potential in vast Mexican deepwater acreage. Pemex is certainly aware of this, and has recently stated it may have as much as 29boe in the GOM; however, to date the NOC's efforts have primarily been confined to shallow shelf waters. Should Pemex ever open up to outside funding, we'd expect deepwater activity to ramp up pretty quickly.

1 of 10 Next Slide >>

Thursday, November 21, 2013

The employee performance review: How to make it a more positive experience


Written by Jan Adelman — August 5th, 2013 

No singular event causes employees more dread than the annual employee performance review. In many instances, this sense of anxiety exists because the employee perceives that the primary purpose of the review is for the supervisor to build a case in support of their position for the employee ranking process. The outcome of this ranking process is then used in the development of the employee's salary treatment, which may create even more angst.bigstock-African-businessman-mentors-hi-27174596.jpg

While it may be true that this is ONE of the expected outcomes, the review should also be viewed as an opportunity for employees to better understand how to build on their strengths, to identify opportunities for improvement and to learn how they can become more successful in their current position. The review also provides an opportunity for employees to communicate their long-term career goals and aspirations, and to see if these goals are viewed as realistic in the eyes of their supervisor and the organization. Another potential outcome could be the determination of whether improved performance requires not only employee commitment, but additional training and development.

Because of the importance of the review, it is best that the employee prepare well IN ADVANCE of the review. Without some forethought, an employee could come out of the review with a less than desirable outcome. This lack of preparation could negatively affect how you are viewed by your supervisor, regardless of how well you have performed.

So what are some of the steps an employee can take to lessen the anxiety of the review and to help achieve a more desirable outcome?

  • Make sure you understand the review process. What is the purpose of the review? How will the information developed in the review to be utilized? How is data gathered by the supervisor and from whom? The more you know about the process, the more confident you will feel about your participation.
  • Gather information on your accomplishments. Take some time to review your files, notes, calendars, etc. to capture your major accomplishments during the review period. Be sure to focus on OUTCOMES, not EFFORT. It is particularly important that you do this with the goals and objectives that you and your supervisor agreed to at the start of the review period. Highlight the benefits and value realized from the achievement of these goals.
  • Be honest about yourself. Self assessment is often a very difficult but important thing to do. How do you FEEL you did during the year? Were there any major failures and, if so, why? What could you have done differently that could have prevented the outcome? Focus on reasons, not excuses. These issues will come up anyway, so be prepared to respond in the most positive fashion.
  • Identify new or improved skills that you acquired. Be specific about areas in which you felt you improved. Give specific examples to support your position. Highlight new skills that you acquired and how you went about developing them. Indicate how these benefit both you and the company.
  • Describe how you overcame obstacles. Outline any unique challenges you faced during the year that could have negatively affected your performance. More importantly, describe in detail what you did to overcome them. How did you involve others to help you? What options did you consider before developing a plan to address them? What benefits did the company accrue because of your efforts? This will demonstrate to your supervisor that you used creativity and innovative thinking in addressing the challenges.
  • Gather feedback from others. If getting performance from others in your organization is not an integral part of your organization's process, gather the data on your own. Every employee has "suppliers' and "customers", even if they are internal to the company. Go to those people you interface with most often and seek their input. Identify not only what you do well, but ask them what you can do help make the relationship even more positive.
  • Ask your supervisor for assistance. So much of your success depends on the type of relationship you have with your supervisor. Let them know what they do as your supervisor that is helpful to you in the accomplishment of your work. Additionally, inform them as to what they might do differently that would be of help. They may not be aware of how some their actions are serving as an obstacle to success. Also, ask for their support in getting those resources you might need to achieve your work goals and objectives.
  • Do not be argumentative. There certainly may be occasions in the performance discussion where you and your supervisor are not in agreement. While it is perfectly OK to state your position in an appropriate fashion, do not get into an argument. Your boss may not be right, but he or she is still your boss! Indicate what actions you plan to take to address the differences of opinion. You don't want to "win the battle, but lose the war".
  • End the discussion on a high note. As much as possible, you want to end the discussion on a positive note. Thank the supervisor for taking the time and making the effort to prepare for the discussion. Let them know that you appreciate them affording you the opportunity to discuss the outcomes of your efforts and your career goals. Express appreciation for their candor and honesty in providing feedback and for their continued support. Reaffirm your commitment to build on your strengths, address your areas for improvement and to work to become an even better contributor to the success of the organization.

By better preparation upfront, by conducting yourself confidently and professionally during the review itself, you will have taken a big step in having the performance review become more a positive experience. This will also help create a stronger, more supportive relationship with your supervisor which will benefit you not only now, but in the future.


https://oilonline.com/resources/talent/employee-performance-review-how-make-it-more-positive-experi/

Bored on a Rig? Careful What You Download

Working on an offshore oil rig can be dangerous, exhilarating, profitable, fun, exhausting, and yes, sometimes even boring. It's the boring part that has oil executives and IT departments concerned.

According to a report released earlier this year, malicious software (malware) unintentionally downloaded by some offshore oil workers during their downtime has disabled computer networks on some rigs and platforms, revealing gaps in security which could pose severe risks to both people and the environment, not to mention compromising the financial and product security of the individual rigs.

According to industry experts, a worst-case scenario could theoretically end up as catastrophic. An out-of-order rig and accompanying safety systems could very easily cause a well blowout, explosion, oil spill and lost lives.

To fully understand how something like this can (and does) happen, let's take a look at potential openings for such a thing to occur.

First, most populated rigs and platforms, certainly the ones where personnel are stationed there for months at a time, have satellite systems which allow the onboard personnel to have internet access so they can Skype with their families, check email, sports scores, and pretty much everything that we all do when we're online.

Secondly, most often, the satellite lines are secure from the potential of downloaded malware thanks to firewalls and company "blocks" of certain websites. But in many cases, the workers will bring their own laptops onboard and connect with the satellite system. In these cases, if the user has downloaded malware (intentionally or not) while they were at home, that infected software can very easily make its way into the onboard systems.

And if a hacker happened to be aware of who was working on a rig, it doesn't take a rocket scientist to figure out how to hack the system. In the instances referred to in the recently released report, some of the infected files – from online sources featuring pornography or music piracy, for example – were downloaded directly through the satellite connections. But other malware was brought aboard on laptops and USB drives that were infected on land.

So far, everyone has been pretty lucky. While malware has been found on numerous rigs, and even has caused systems to lock up or go offline, there has not yet been a malicious attack which compromised safety. The operative word there is yet.

Rig operators and oil companies can make great strides toward guarding their networks by making sure software is up-to-date, and also by implementing additional cybersecurity processes. But the truth is that many companies have been reluctant to spend the bucks involved in doing that, and as a result, they are still vulnerable to the possibility of a targeted attack.

As was proven recently on a rig in the Gulf of Mexico, networks don't even have to be connected to onshore locations to cause problems. Just this year, an infected device was connected to an isolated network and the malware spread causing the entire rig-based system to lock up.

A typical malware infection on a rig or platform would more than likely cause no serious long-term problems. It's generally more of a headache for the IT department, and of course, a loss of production time for the workers. But an attack which has been carefully designed to target a specific rig through the use of widely distributed malware, could have dangerous repercussions.

And it's not out of the realm of possibility. So what's the solution?

Well, for starters, companies need to accept the fact that cybersecurity is as much a part of doing business as benefits packages and office furniture. As a Department of Homeland Security update said earlier this year, 40 percent of the intentional cyberattacks last year targeted the energy industry. It's time for companies to start making the investment in cybersecurity before they don't have the rigs for workers to get bored on.


http://oilpro.com/post/1546/bored-on-a-rig--careful-what-you-download?utm_campaign=newsletter42&utm_source=dailyNewsletter&utm_medium=email

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