We express our deep gratitude to Mr. Gurparkash Singh for his constant support, guidance and motivation which helped us immensely in completing this project. The project provided us with an opportunity to understand the fundamentals of Knowledge Management in a better manner and its application in corporate world. The insistence on taking up a project on application of Knowledge Management in energy based firm and promoting it with latest technologies used by them to get a competitive advantage. ABSTRACT
We have ConocoPhillips as our project firm of Knowledge Management. We learnt a lot about the importance of Knowledge sharing in today’s firms. The company continues to make tremendous progress toward its vision of creating a work place where employees continually deliver additional value through global collaboration and expertise sharing. At ConocoPhillips, support for sharing comes from the executive level and cascades downward and outward throughout the U.S.’s 6th largest global firm. The following report describe the approach, knowledge initiatives and use of lessons learned that have propelled ConocoPhillips’ current knowledge sharing and learning platform forward. At the end of this document, we have provided metrics that demonstrate the robust growth of Knowledge Sharing at ConocoPhillips COMPANY PROFILE
ConocoPhillips Company is an American multinational energy corporation with its headquarters located in the Energy Corridor district of Houston, Texas in the United States. It is the world's largest independent pure-play exploration & production company and is also one of the Fortune 500 companies. ConocoPhillips was created through the merger of Conoco Inc. and the Phillips Petroleum Company on August 30, 2002 and was the fifth largest integrated oil company until spinning off its downstream assets to Phillips 66
ConocoPhillips focuses solely on exploring for, developing and producing oil and natural gas globally. The company manages its operations through six operating segments, which are defined by geographic region: Alaska, Lower 48 and Latin America, Canada, Europe, Asia Pacific and Middle East, and Other International. It currently owns 8.4% of the shares of the consortium exploiting Kashagan oil field however the company seeks to reduce its non-core assets in order to use the cash for debt reduction, fund its capital program, and dividend payments. On October 3, 2012, the Kazakh Oil and Gas Minister told reporters that ConocoPhillips has informed Kazkahstan of their intention to sell their shares. In November 26, in its biggest acquisition ever, ONGC Videsh agreed to buy ConocoPhillips’ 8.4% stake in the Kashagan oilfield for about US $5 billion. The stake buy is subject to approval of governments of Kazakhstan and India and also to other partners in the Caspian Sea field waiving their pre-emption rights.
Need of knowledge Management
Smart managers intuitively understand the importance of the problems that knowledge management efforts are often designed to address: sprinkled across most organizations are people doing similar kinds of work, but they often remain unaware of one another's expertise, successes, and failures. Some of this lack of awareness is the result of waves of downsizing, reorganizations, leadership changes, and new acquisitions. But even in the best-managed large organizations, employees who could benefit from one another's experiences are often isolated by formal structures and mechanisms that subdivide work into different reporting channels and focus employees on local rather than global goals. To serve customers well and remain in business companies must: reduce their cycle times, operate with minimum fixed assets and overhead (people, inventory and facilities), shorten product development time, improve customer service, empower employees, innovate and deliver high quality products enhance and adoption, capture information, create knowledge, share and...