Project Tiger has just about run its course; time for Project Epsilon in 2016 to reduce the workforce by another 20%.
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Project Tiger is at CVX. I participated in some of the benchmarking of our MCP staffing levels.
I think your prediction has a better than 90% chance of happening.
I think Project Tiger is over at XOM. But I predict (DISCLAIMER: I'm as good as a weatherman, your retirement planner, or anyone else on here) there will be some Project Codename revealed by April.
"IF" is right. Isn't that always the excuse... IF?
Wheatstone and Gorgon would've been solid projects even at current pricing if executes per original budget and schedule.
@1wgu - You say "Yes, the economics in Tengiz do work" and it's "like taking candy away from a baby", and "may be the last bright spot in Chevron's portfolio". Sounds like the foregone conclusions that were made when Chevron jumped right into Gorgon then Wheatstone. Let's hope our FID decisions are not being by the same group of clowns and "yes men".
FGP: Future Growth Project. Next generation expansion in Tengiz, Kazakhstan. Yes, the economics do work with quite low commodity prices, because the major issue with the Tengiz field, very high H2S, has been resolved. Beyond that, it is like taking candy from a baby. Giant oil play + remote location x strong relations with the local government = maybe the last bright spot on Chevron's portfolio. Just hope the Kazakhs don't get wise and kick the company out of the country anytime soon.
What is this FGP that works at $35?
... Alphabet Soup Acronym-Challenged Engineer
What is project TIGER?
I think leadership is afraid to cut much on execution projects. The only thing they knew to do when projects weren't going well was add more staff. It really just made problems worse by adding bureaucracy and expending the time required to make decisions (in execution you don't have months to bs and cpdep things to death). It seems they haven't learned their lesson but I wouldn't want to be on a MCP that is ending in 2016. Everyone needs to run to FGP as its the only MCP in queue with a duration long enough to weather this storm that will actually get funded because economics work at $35 oil.
Also, don't forget that moving someone to a MCP saves the company $ because our partners then have to pay their share of the employee salary/benefits. Moving someone from opex or a COE to a MCP can result in a ~70% cash savings for Chevron. Better to leave people on the MCP than to pay the severance.