This might be good ideas from Baker Hughes to keep oil and gas people in the business during downturn. Read the full details below.
Houston-based Baker Hughes is cutting employee pay for many U.S. workers by 5 percent through a new furlough program to reduce costs and lessen the need for additional job reductions.
The pay cuts, which Baker Hughes described as temporary, will stretch from the pay period beginning Sept. 11 through the final paycheck of the year. In exchange for the pay cut, employees will get holidays on Oct. 10, Nov. 23, Dec. 23 and Dec. 28, according to an internal memo acquired by the Houston Chronicle.
The memo said the furlough program is designed to “help Baker Hughes reduce the need for additional layoffs and to achieve the cost savings needed to enable profitable growth.” Among those excluded from the pay cuts are some top executives and other global operations employees in the United States; many employees in chemicals operations; some human resources workers; many sales people; and corporate security and information technology workers, among others. Most leadership is included in the furlough, according to the memo.
Baker Hughes spokeswoman Melanie Kania said in a prepared statement, “These efforts will allow us to lessen the need for additional workforce reductions while remaining focused on serving customers and maintaining safe, compliant operations.”
Scale factor represents distortion from a mapping system since the Earth is mapped into a flat surface, but the actual surface is in curvature. Figure 1 illustrates a scale factor with a reference location of the Earth’s surface. If the location is above the map projection plan, the scale factor will be less than 1.0. However, if the location is below the mapping projection, the scale factor will be more than 1.0. A scale factor less than 1 means that the actual distance on the Earth’s surface is longer than the actual distance on the map. Whereas, the scale factor of more than 1 demonstrates that the actual distance on the Earth is shorter than the map distance.
Universal Transverse Mercator (UTM) is one of the commonly used map projection methods in directional drilling. In UTM, the world is divided up into 60 zones between 84° North and 80° South and East-West from 180 degrees longitude. Then the Earth is flattened with the Zone 1 starting at 180 E-W longitude. Since the earth is divided into 60 zone so each zone has 6 degree wide. Figure 1 illustrates the concept of UTM and Figure 2 shows the UTM grid. This method will not cover the polar region.
Figure 1 – Universal Transverse Mercator Diagram
Figure 2 – The Universal Transverse Mercator (UTM) grid
Zones are numbers from 1 to 60 and the zone 31 has 0 degree meridian (Greenwich, England) on the left and 6 degree East on the right (Figure 3). Each one in UTM is divided into grid sections which cover 8 degrees of latitude and the system uses letters from C to X, excluding I and O.
Shell has started production from the Stones development in the Gulf of Mexico, the world’s deepest offshore oil and gas project.
When fully ramped up at the end of 2017, the development is expected to produce approximately 50,000 barrels of oil equivalent per day (boepd), the company informed in a statement.
“Stones is the latest example of our leadership, capability and knowledge, which are key to profitably developing our global deep water resources. Our growing expertise in using such technologies in innovative ways will help us unlock more deep water resources around the world,” Royal Dutch Shell Upstream Director, Andy Brown, said.
The project, fully owned and operated by the supermajor, is Shell’s second producing field from the lower tertiary geologic frontier in the Gulf of Mexico.
According to the company, it features a more cost-effective well design, requiring less material and lower installation costs, which is expected to offer a US$1 billion (£749.38 million) reduction in well costs.