spirit award q4 spirit magazine
TRANSCRIPT
46 Conoco Phillips
2015 SPIRIT Awards:Business Excellence and Wellness demonstrate the value of teamwork
BY JAN HESTER
Business Excellence20K JOINT DEVELOPMENT FRAME AGREEMENT
To access the technologies required to develop deepwater assets in basins with high pressures and high temperatures (HPHT), the team evaluated, negotiated and executed a 20,000 psi
THIS FINAL INSTALLMENT OF THE 2015 SPIRIT AWARDS HIGHLIGHTS RECIPIENTS IN
BUSINESS EXCELLENCE AND WELLNESS. BOTH CATEGORIES RECOGNIZE TEAMS WHO
HAVE WORKED COLLABORATIVELY AND CREATIVELY TO ACHIEVE SUCCESS. RECIPIENTS
OF THE BUSINESS EXCELLENCE AWARDS EXEMPLIFY INNOVATION, IDENTIFYING
OPPORTUNITIES TO IMPROVE PROCESSES AND PROCEDURES AND EXECUTING CREATIVE
SOLUTIONS. THE WELLNESS AWARD REPRESENTS TEAMS WHOSE COMMITMENT TO
HEALTH AND WELL-BEING BENEFITS THE PEOPLE OF CONOCO PHILLIPS.
(20K)/350 degrees Fahrenheit subsea produc-tion system joint development agreement ( JDA) with Anadarko, BP, FMC and Shell. Conoco-Phillips’ engagement helped create a unique producer/supplier agreement that drives industry
2015 SPIRIT AWARDS
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standardization via a single set of specifications. “The JDA enables Conoco Phillips to influence the design and qualification of HPHT 20K subsea systems, develop internal capabilities and ensure technology access for future developments,” said Team Lead Tegan Marroquin. The JDA was also leveraged into frame agreements providing Conoco Phillips top tier pricing and preferred customer status globally.
20K Joint Development Frame Agreement Team
Tegan Marroquin, team leadChance HardieKarla BowerTerri Flinner
Christopher GabrielChris KocurekTony RayShamim Sulema
2015 SPIRIT AWARDS
Business ExcellenceFMV METHOD OF INTEREST APPORTIONMENT
By electing the fair market value (FMV) method for apportioning corporate interest expense between foreign and U.S. taxable income, the Conoco Phillips Tax department generated $110 million in tax benefits for 2013 and 2014. Expected future tax benefits are approximately $50 million annually. “Using the FMV method reduces cash taxes, incrementally lowers the cost
FMV Method of Interest Apportionment Team
Heather Crowder, team leadAstri AldenKim AshlockKurtis BondBen CarlsonAlan CarruthTony ChayaWilliam CorbridgeElmo GoreMichael GriffinLars HelgelandAdrian JeffersonChad JenkinsRandolph JohnsonIda KamaruddinDoris LeeEdwin Loftis
Thomas McKnightSarah McLeodJuan MolinaStuart NunnDane PaddonJosh PrattTrish RiccioChristopher RobertsonPaul RuschBruce SagerMarissa StaplesJoanne TaylorBoriana VitanovJ.W. WesevichPetra WindgaetterColin Wolfe
of borrowing and benefits earnings,” said Team Lead Heather Crowder. “The result is a significant, long-term contribution to the company’s financial results.” Because this approach involved a review of the entire portfolio of assets, it required assis-tance from all business units. The global collabo-ration employed exemplifies business excellence across the organization.
Heather Crowder
Tegan Marroquin
Bartlesville team members, from left: Chad Jenkins, Ben Carlson, Elmo Gore, Kim Ashlock and Marissa Staples