Texaco was founded in 1902 and has grown to be one of the world's major oil companies, operating world-wide and employing 50,000 staff. Texaco is a leader in the development and application of new technology in the petroleum industry. The international headquarters are in White Plains, New York.
Texaco operating divisions are: Texaco USA, Texaco Europe, Texaco Middle East / Far East and Texaco Latin America / West Africa, each responsible for the full scope of company activities in its own geographical area (including exploration, production, refining, marketing and related transportation activities).
In the Western hemisphere, Texaco's producing operations take place in the United States, Canada, Trinidad, Ecuador and Columbia. In the Eastern hemisphere, Texaco is exploring for oil in 20 countries and participates in production in 12.
In the late 1980's, Texaco improved upstream operations with a strategy based on drilling in high potential areas and by utilising sophisticated technology to increase production. Record liquids production and increased natural gas sales significantly contributed to all time high profitability in the upstream area.
Texaco Europe downstream is expanding and developing Pan-European marketing programmes within subsidiary companies.
Texaco, as a fully integrated oil company, relocated its London headquarters from Knightsbridge to Canary Wharf in early 1993 and has established upstream operations base in Aberdeen.
Texaco is at the leading edge in exploiting marginal reserves in the North Sea and in developing oil technology. Texaco's refinery at Pembroke, Wales is one of the most modern in Europe. Marketing, distribution and sales activities in the UK, where we are the 4th largest petrol retailer, are adapting to meet continually changing market conditions. Multi-disciplinary teams have ensured successful project development to meet the company's targets and this strategy has more than proved itself with the approval of 2 new field developments - Captain and Erskine.
During the 1990s Texaco has consistently improved its rankings in the oil and gas industry league tables, This has been achieved not through acquisitions but rather due to the continuing, successful exploitation of our asset base.
The vision for the upstream organisation is to become the most profitable and productive operation in the business of locating and extracting hydrocarbons while continuing to maintain the highest standards of safety for personnel and regard for the environment. In this regard we aim to be one of the most admired and respected companies in the UK.
During early 1992, Texaco UK Upstream, underwent a streamlining of its organisation, re-drawing departmental boundaries and creating a flatter structure in line with business opportunities. At the same time a strategic intent was announced to double the value of the UK upstream by the year 2000. This has become known within Texaco as 2X2000.
The new organisation is designed to add value at each stage. Critical features that derived from the new direction are:
The new upstream organisation in the UK comprises three major business units each headed by a General Manager reporting to the Managing Director. The business units are:
There are two other groups, Drilling Services and Strategic Business Analysis in addition to these three major units. These teams are in place to support the operations and to monitor and guide the business performance.
Each multi-disciplinary team has clearly defined objectives and is empowered to deliver the success.
Both professional and technical staff throughout the organisation are linked by informal networks to ensure the reinforcement of skills, to help the review of work and enabling liaison with external agencies to be co-ordinated.
The organisation produces a challenging environment in which everyone acknowledges a greater ownership and responsibility for the business success. This has ensured that added value has been achieved and improvement made, both in staff development and the business.
In 1993 and 1995 two organisational adjustments were made to re-align our resources to changing business needs.
The successful channelling of resources has led to an empowered staff who are aware and prepared to address challenges and to iron and adjust the organisation as necessary in the pursuit of our goals.
The success of Captain and Erskine (our most recent approved fields for development) demonstrate the effectiveness of this highly focused, business orientated, multidisciplinary approach, in which commercial and engineering experts participate jointly in the evaluation phase. The synergy derived from 'working together' rather than 'handing over' has resulted in increased efficiency and commercial success.
The organisational re-engineering which has been so successful in the UK that it is now accepted practise throughout Texaco's global business.