| Abstract | In the context of oil price fell down sharply and deeply from 110 USD per barrel in June 2014 to around 35 USD per barrel at the moment that have had big impact, influence to operation, production, revenue and profit of the entire oil and gas industries, oil and gas companies in the world in general and in Vietnam in particular. Hoang Long JOC, a company specializes in oil and gas exploration, exploitation and is the owner and operator of TGT offshore oil field has been seriously affected with a significant decline in revenue and profit. Besides that the TGT field itself after more than 4 years putting into operation had experienced some technical problems that affected to safety, reliability and operation efficiency of the field.
Putting into consideration those factors, this research is carried out with the aim of analyzing the technical problems at TGT field in details, looking at their causes and consequences as well as affected factors. From that the author will try to find practical solutions to partly mitigate or completely solve the problems. At the same time, this research also analyzes and assesses current economic situation of the company and proposes some solutions to reduce production cost, improve performance, increase operation, production efficiency and enhance oil recovery from the reservoir with the purpose of maintaining continuous oil production from the field.
This research applies some knowledge of operation management, project management and some well-known business analysis models, methods such as SWOT; Porter’s Five Forces Model that the author learned throughout the entire iEMBA program to analyze the company’s surrounding business environment as well as the company’s strengths, opportunities and its weaknesses, threats. |