I didn't realize it was this bad. We are pumping vast quantities of CO2 into the air in direct violation of our promises to Australia. Shameful. And JJ was ABU MD during Phase 3 of the project!! No accountability.
https://www.smh.com.au/business/companies/gas-giant-s-3-2b-effort-to-bury-carbon-pollution-is-failing-20221113-p5bxtw.html
That is not true whatsover. Our overall project performance is ok but the occasional giant disaster, like Gorgon, wipes out ALL the value from the rest of the projects.
@aojb, you gotta be kidding. Chevron over the last 20 years has way more P10 or P20 performing projects than anything, check project performances (I know, it's that's part of my job) and believe me, the future's not looking much better. How creative (and motivating) to blame the troops rather than the "leaders", you must be one of those yes-person high-pot.
Every success has a thousand mothers and every failure is an orphan.
I'm not aware KC was involved in any failed projects to any meaningful extent. That blame lies squarely with the cretins in the BUs.
KC is a 'company man' who parrots whatever SR and the C-suite tell him. A true chameleon, his 'expertise' constantly flips to whatever is trendy. Proof in the pudding is the trail of botched and underperforming projects in Chevron.
So... KC is so good, yet we have this Gorgon problem. Do we have a 'great leader' with poor staff?
Agree the comment on KC. There are very few technically credible leaders that can backfill him (or ES in FE as well).
KC is one of the very last old guard technical experts who is also a leader. His technical expertise is as high as anyone in the corporation. A great credit to Chevron.
@7cmn if triple crown is what they mean by "digital transformation," the industry is in trouble. that interview with KC is horrible and far removed from reality.
Hmmm... new article (https://worldoil.com/magazine/2022/october-2022/features/chevron-s-chambers-sees-digital-transformation-affecting-upstream-positively-for-years-to-come/) says Chevron has had stellar subsurface success with the digital transformation. Maybe Gorgon should have waited for the digital transformation?
Typical of worldwide Chevron project disasters when you "trust" locals to get the job done rather than having true experts work on it.
"Could of" ???? lmao at the embarrassing illiteracy constantly on display here.
Why to I continue to hear year after year that each and every major cap run by Chevron is a cascading disaster of cost overruns and mismanagement, even as Chevron’s stock keeps rocketing to the stratosphere?
You are right about the cost savings. If only we had spent real money on Gorgon instead of nickel and diming it at $54 billion it might have been successful. Jansz would not have run out of gas already. Facilities would not have crapped out with massive clanking noises. Quarantine wouldn't have zapped us. Unions wouldn't have clobbered us. CO2 would have just shot into the ground.
Oh, except the economics on the project were sub-marginal at the AFE estimate of $30B. We should have walked away and given all the gas to those maroons at Woodside.
In times of change Chevron’s fundamental tenets of operations (“always time to do it right”) tend to short circuit and it is seldom good long term. The good news for rhe managers responsible is they already got their extra bonuses and happily retired before the CO2 hit the fan (so to speak).
"We're going to save money no matter what it costs"! It's what happens when you try to score brownie points by saving money on a project and pay for it big time with rework after its up and running.
Me too. I like to make up stories about playing gulf too but just at the elite gulf courses.
I had no idea this was a problem. I knew injection startup was delayed by surface equipment and corrosion problems, but had not heard pressure relief wells had developed sand problems. That said, I have been out of the game since taking the package in 2016 and they didn’t broadcast OZ news much at my gulf course.
Yes, most of the petro tech work was done during and shortly after the big layoffs and the Aussies wanted the credit for doing it all in-house. Very little CTC participation.
As I recall nearly all the CO2 technical work in phases 3 and 4 was done by Aussies. Just sayin'.
We have been drilling, sampling and studying that reservoir for Decades on Barrow Island. How could we be so stooped?
Can’t the Einsteins and PHDs at CTC figure this one out?
In the recent earnings call JJ blamed the disposal reservoir for poor performance. I guess we should fire the reservoir.
where is the trust....where is the accountability?!
“The Chevron Way provides a foundation for what we value, what we believe and how we behave. Throughout our history, Chevron has been a place where trust, respect and humility define our culture and where performance, truth and accountability guide the way. We believe the future of energy will be lower carbon, and we intend to be a leader in that future.”
Mike Wirth
Chairman and Chief Executive Officer
I thought the problem were cows.
You should boycott fossil fuels to protest.
At least we’re doing something. Most projects just blow all the CO2 straight up the stack.