Can someone please explain to me the Horizon Challenge? Is this a new concept or a fancy name for an old problem? Thanks for any insights.
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@a5 Remember Brazil efforts in 2016-22? So do they
Didn't The Horizon go bo-m? Why would we use this name?
Current management and executives have no clue about upstream business and are now surprised that they cannot find another Guyana. Stupid and unrealistic requests coming down from the executives. They cry and throw their rattle as they cannot comprehend that not every government will allow them to do everything in India. They cannot accept this answer though since their bonus is based on hitting DTI and DBBI targets.
1) in oil and gas, it is capitally intensive to maintain and grow production
2) we have not spent those dollars in favor of demonstrating shorter term efficiency
3) this bill will be due in ~2030
Guyana and Permian are set to fall off a cliff. Horizon challenge is some management gibberish where we will pretend for a while to still have the people/expertise to organically replace reserves. Instead we will continue to shed employees through PIP, offshore more roles, and end up buying another couple companies in a few years out of desperation.