Deployment of this massive floating production, storage and offloading vessel, one of the world's largest, is part of the company's major continuing oil development program in China's Bohai Bay.

Maximizing Efficiency and Managing Costs

 

 

espite the volatile economy, industry cost inflation, and fierce competition for experienced workers, during 2008 Project Development (PD) delivered a number of projects that strengthened ConocoPhillips' position around the world.

"We have worked tirelessly to strengthen our expertise and become a best-in-class organization," says Luc Messier, senior vice president, Project Development. "This is evident in our success, and I believe we have the project management know-how and experience to be a preferred partner on projects around the globe."

PD achieved improved safety performance in 2008, with a 43 percent decline in its recordable incident rate from 2007.

It also completed a number of large upstream and downstream projects. Among them was the Bohai Bay floating production, storage and offloading vessel, one of the world's largest with 2 million barrels of capacity. In addition, the Britannia Satellites phase I project in the United Kingdom involved simultaneous development of the Callanish oil field and the Brodgar gas condensate field. The Su Tu Vang development project in Vietnam included construction of a central processing platform with capacity to process 100,000 barrels per day, and modification of a floating vessel to store and export crude oil.

Additional milestones included startup of Russia's Yuzhno Khylchuyu (YK) field; completion of the Freeport liquefied natural gas receiving terminal construction in Texas; replacement of a boiler at the Trainer, Pa., refinery; and completion of a fluidized catalytic converter at the Los Angeles, Calif., refinery that included construction of a wet gas scrubber and wet electrostatic precipitator to reduce emissions.

The organization improved its engineering standards, systems and tools, and took key steps to enhance the skills and knowledge of its work force.

With 150 projects in development, during 2009 the organization will focus on delivering safe, predictable and competitive projects in a highly efficient manner. The group also will work with business partners and suppliers to manage and reduce costs.

"We face new challenges during 2009 that we could not have imagined a year ago, but we have the experience as well as the personnel, systems and tools necessary to respond to the new industry operating environment," says Messier.