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Article
Publication date: 14 March 2024

Sina Tarighi

The purpose of this study is to define and develop a new technological development path for latecomer firms in developing countries.

Abstract

Purpose

The purpose of this study is to define and develop a new technological development path for latecomer firms in developing countries.

Design/methodology/approach

An analytical framework for development based on the technological capability (TC) dimensions is developed and examined in the drilling sector. Since the process of TC accumulation is dynamic, the case study approach is the best method for an exploratory theory-building study. Through a comparative case study of two Iranian drilling contractors, a new path for the technological development of latecomer oil service companies is proposed.

Findings

The study of two cases indicates that despite having similar scope and levels of TC, one of them demonstrated superior technical performance. To address this difference, the concept of operational efficiency is introduced which is considered the outcome of increasing the depth of TC.

Practical implications

Although upgrading the level of technological and innovation capability is an important path for technological development, latecomers that suffer from various disadvantages can perform their routine activities with superior performance and develop through their basic operational/production capabilities. Also, specialized indicators designed for assessing the level and depth of TC in the drilling industry have important insights for evaluating the technological and competitive position of oil service companies.

Originality/value

To the best of the author’s knowledge, this study takes the first step in defining and elaborating on the concept of depth of TC as a development path for latecomers. It also introduced a novel approach to the global operational/production efficiency frontier as a target for their catch-up.

Details

Journal of Science and Technology Policy Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2053-4620

Keywords

Article
Publication date: 17 July 2019

Shanfei Feng and Trichy V. Krishnan

Companies in the B2B service sector often sign a series of successive contracts instead of one long contract with their vendors. Economic researchers have shown how the lengths of…

Abstract

Purpose

Companies in the B2B service sector often sign a series of successive contracts instead of one long contract with their vendors. Economic researchers have shown how the lengths of stand-alone contracts are influenced by economic factors such as asset specificity and economic volatility, but have not researched into contracts that are part of a continuous series. The purpose of this study was to explore if being a part of a series of contracts influences the length of the focal contract and the rental rate.

Design/methodology/approach

The authors use data collected from the oil drilling industry to empirically test their hypotheses. The data set consists of 2,621 contracts involving jack-up rig hiring in the Gulf of Mexico region.

Findings

The authors empirically show that the series duration affects both the length and rental rate of each constituent contract, even after considering all other plausible economic factors. Specifically, the duration of a series has a positive effect on the length and a negative effect on the rental rate of the constituent contract.

Originality/value

Although contract length is as vital as the rent in B2B service transactions, it is rather unfortunate that marketing scholars have not researched much into this topic. The findings offer a new insight into the forces that shape the B2B service contracts and thus help the B2B managers make a better decision in service contracts.

Details

Journal of Business & Industrial Marketing, vol. 34 no. 7
Type: Research Article
ISSN: 0885-8624

Keywords

Article
Publication date: 1 August 1996

Denis Graham and Vipul K. Gupta

How do managers, in their role as decision makers, design and implement systems for management of quality? Proposes that there is no one, definitive answer to this question, given…

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Abstract

How do managers, in their role as decision makers, design and implement systems for management of quality? Proposes that there is no one, definitive answer to this question, given various industrial environments and their operating constraints, diverse market conditions and numerous management philosophies. Attempts to address quality management issues in the business‐to‐business industrial service industry by presenting a case study on the quality management approach taken by Diamond Offshore Drilling, Inc. ‐ one of the largest offshore oil‐drilling companies in the world. States that the business‐to‐business industrial service markets are characterized by the sale of industrial services to business customers, who often then use these services to produce goods or services for consumers or other businesses. A wide variety of services are provided by the companies operating in this industry, such as offshore oil‐drilling and exploration, warehousing and public utilities. The case study follows the backdrop, initiation and complete implementation of Diamond Offshore’s Global Excellence in Management Systems (GEMS) programme. GEMS can be characterized as a system deeply rooted in the basics of quality management ‐ customer‐defined requirements and quality through customer satisfaction. Also discusses post‐implementation customer feedback results to illustrate the success of the programme. Based on the GEMS framework and relevant literature, proposes a generalized framework for implementing quality management in firms operating in business‐to‐business industrial service markets.

Details

International Journal of Quality Science, vol. 1 no. 2
Type: Research Article
ISSN: 1359-8538

Keywords

Book part
Publication date: 19 October 2016

Michael Watts

Using the case of the Deepwater Horizon blowout in the Gulf of Mexico in 2010, I argue that the catastrophe was less an example of a low probability-high catastrophe event than an…

Abstract

Using the case of the Deepwater Horizon blowout in the Gulf of Mexico in 2010, I argue that the catastrophe was less an example of a low probability-high catastrophe event than an instance of socially produced risks and insecurities associated with deepwater oil and gas production during the neoliberal period after 1980. The disaster exposes the deadly intersection of the aggressive enclosure of a new technologically risky resource frontier (the deepwater continental shelf) with what I call a frontier of neoliberalized risk, a lethal product of cut-throat corporate cost-cutting, the collapse of government oversight and regulatory authority and the deepening financialization and securitization of the oil market. These two local pockets of socially produced risk and wrecklessness have come to exceed the capabilities of what passes as risk management and energy security. In this sense, the Deepwater Horizon disaster was produced by a set of structural conditions, a sort of rogue capitalism, not unlike those which precipitated the financial meltdown of 2008. The forms of accumulation unleashed in the Gulf of Mexico over three decades rendered a high-risk enterprise yet more risky, all the while accumulating insecurities and radical uncertainties which made the likelihood of a Deepwater Horizon type disaster highly overdetermined.

Details

Risking Capitalism
Type: Book
ISBN: 978-1-78635-235-4

Keywords

Article
Publication date: 4 January 2017

Sjur Børve, Tuomas Ahola, Bjorn Andersen and Wenche Aarseth

The purpose of this paper is to evaluate to which extent partnering practices observed in earlier research focussing on the construction industry are applied in offshore…

Abstract

Purpose

The purpose of this paper is to evaluate to which extent partnering practices observed in earlier research focussing on the construction industry are applied in offshore development drilling projects.

Design/methodology/approach

The paper reviews earlier research on project partnering and the relationship-based procurement (RBP) taxonomy. The taxonomy is then empirically applied to describe partnering practices in an incentive-based drilling project in Norway.

Findings

Many elements of project partnering observed earlier in construction projects were found to characterize offshore development drilling projects. However, as assessed using the RBP framework, the authors found that partnering elements in observed context rated consistently lower than elements previously reported in the construction industry, indicating a lower maturity of partnering practices in the studied context.

Practical implications

The present study provides a multi-dimensional and systematic description of partnering practices in offshore drilling projects. Project owners can utilize this information to identify partnering elements requiring particular emphasis when initiating and managing drilling projects. Based on the findings, such elements include transparency and open-book auditing, integrated risk mitigation and insurance practices and establishment of authentic leadership. The findings further imply that partnering models cannot be directly applied across industry boundaries but must be tailored to fit the salient characteristics of each context.

Originality/value

The paper systematically describes to which extent specific partnering elements of the RBP taxonomy are applied in offshore drilling projects.

Details

International Journal of Managing Projects in Business, vol. 10 no. 1
Type: Research Article
ISSN: 1753-8378

Keywords

Article
Publication date: 4 November 2019

Steve A. Garner and Michael J. Lacina

The purpose of this study is to use a sample of oil and gas firms and examine the relationship between environmental disclosure in the USA Form 10-K and the stock market reaction…

Abstract

Purpose

The purpose of this study is to use a sample of oil and gas firms and examine the relationship between environmental disclosure in the USA Form 10-K and the stock market reaction after the BP oil spill.

Design/methodology/approach

The study focused on three important time periods associated with the oil spill: the time period beginning with the explosion on April 20, 2010 and ending August 5, 2010, one day after BP permanently sealed the oil leak; the period beginning with the explosion on April 20 and ending with the sinking of the Deepwater Horizon oil rig on April 22; and the period associated with President Obama’s first public comments on the oil spill and his administration’s ban on oil drilling, i.e. April 29-30 and May 3.

Findings

The results show a negative relationship between environmental disclosure and stock market reaction.

Social implications

The findings of a negative association could be the result of higher disclosure by firms with more environmental risk because they indeed are riskier and/or they engage in “window dressing” to legitimize their operations and practices and maintain acceptance by society.

Originality/value

The results in this study run counter to a positive association documented in prior research studying the effects of environmental disasters.

Details

Accounting Research Journal, vol. 32 no. 4
Type: Research Article
ISSN: 1030-9616

Keywords

Article
Publication date: 18 January 2016

Phillip Humphrey, David A. Carter and Betty Simkins

The purpose of this paper is to examine the stock market reaction to the Gulf oil spill and determine if the markets exhibited rational pricing. On April 20, 2010, the US Coast…

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Abstract

Purpose

The purpose of this paper is to examine the stock market reaction to the Gulf oil spill and determine if the markets exhibited rational pricing. On April 20, 2010, the US Coast Guard received a report of an explosion and fire aboard Transocean’s Deepwater Horizon offshore drilling rig. The resulting spill exceeded the Exxon Valdez oil spill as the worst in US history. With the total cost of the disaster reaching almost $54 billion for British Petroleum, clearly the spill had far-reaching effects on its market value. However, the more interesting question is what valuation effects might exist for other oil and gas firms, due to an increase in perceived risk for all offshore drilling and/or the likelihood of an increase in the regulation of the industry.

Design/methodology/approach

Because the new information was released piecemeal over time and has the potential to affect a number of firms simultaneously, Gibbon’s (1980) multivariate regression model methodology (MVRM) was used to examine share price reactions of firms in the oil and gas industry in the aftermath of the oil spill. This methodology allows one to test whether significant abnormal returns occur on days where new information is released. Further, one is able to test whether the market reaction was the same for each firm or whether the market differentiated between firms.

Findings

Evidence of abnormal returns was found for the majority of the information dates in our investigation. Further, the results reject the notion that the market reaction was the same for all oil and gas firms, leading to the conclusion that the market did differentiate between firms.

Originality/value

This research is important because the results support rational pricing of the US stock markets following this unexpected and catastrophic event. The market was examined over the period following the oil spill on multiple dates when important new information is provided. This study contributes to financial and economic research on market efficiency and reactions to major risk events.

Details

The Journal of Risk Finance, vol. 17 no. 1
Type: Research Article
ISSN: 1526-5943

Keywords

Article
Publication date: 22 March 2021

Dongmin Li, Guofang Ma and Jia Li

It is essential to level the drilling platform across which a drilling robot travels in a slant underground coal mine tunnel to ensure smooth operation of the drill rod. However…

Abstract

Purpose

It is essential to level the drilling platform across which a drilling robot travels in a slant underground coal mine tunnel to ensure smooth operation of the drill rod. However, existing leveling methods do not provide dynamic performance under the drilling conditions of the underground coal mine. A four-point dynamic leveling algorithm is presented in this paper based on the platform attitude and support rod displacement (DLAAD). An experimental drilling robot demonstrates its dynamic leveling capability and ability to ensure smooth drill rod operations.

Design/methodology/approach

The attitude coordinate of the drilling robot is established according to its structure. A six-axis combined sensor is adopted to detect the platform attitude, thus revealing the three-axis Euler angles. The support rod displacement values are continuously detected by laser displacement sensors to obtain the displacement increment of each support rod as needed. The drilling robot is leveled according to the current support rod displacement and three-dimensional (3 D) attitude detected by the six-axis combined sensor dynamically.

Findings

Experimental results indicate that the DLAAD algorithm is correct and effectively levels the drilling platform dynamically. It can thus provide essential support in resolving drill rod sticking problems during actual underground coal mine drilling operations.

Practical implications

The DLAAD algorithm supports smooth drill rod operations in underground coal mines, which greatly enhances safety, reduces power consumption, and minimizes cost. The approach proposed here thus represents considerable benefits in terms of coal mine production and shows notable potential for application in similar fields.

Originality/value

The novel DLAAD algorithm and leveling control method are the key contributions of this work, they provide dynamical 3 D leveling and help to resolve drill rod sticking problems.

Details

Assembly Automation, vol. 41 no. 2
Type: Research Article
ISSN: 0144-5154

Keywords

Article
Publication date: 30 June 2021

Chafiaa Mendil, Madjid Kidouche, Mohamed Zinelabidine Doghmane, Samir Benammar and Kong Fah Tee

The drill string vibrations can create harmful effects on drilling performance because they generate the stick-slip phenomenon which reduces the quality of drilling and decreases…

Abstract

Purpose

The drill string vibrations can create harmful effects on drilling performance because they generate the stick-slip phenomenon which reduces the quality of drilling and decreases the penetration rate and may affect the robustness of the designed controller. For this reason, it is necessary to carefully test the different rock-bit contact models and analyze their influences on system stability in order to mitigate the vibrations. The purpose of this paper is to investigate the effects of rock-bit interaction on high-frequency stick-slip vibration severity in rotary drilling systems.

Design/methodology/approach

The main objective of this study is an overview of the influence of the rock-bit interaction models on the bit dynamics. A total of three models have been considered, and the drilling parameters have been varied in order to study the reliability of the models. Moreover, a comparison between these models has allowed the determination of the most reliable function for stick-slip phenomenon.

Findings

The torsional model with three degrees of freedom has been considered in order to highlight the effectiveness of the comparative study. Based on the obtained results, it has been concluded that the rock-bit interaction model has big influences on the response of the rotary drilling system. Therefore, it is recommended to consider the results of this study in order to design and implement a robust control system to mitigate harmful vibrations; the practical implementation of this model can be advantageous in designing a smart rotary drilling system.

Originality/value

Many rock-bit functions have been proposed in the literature, but no study has been dedicated to compare them; this is the main contribution of this study. Moreover, a case study of harmonic torsional vibrations analysis has been carried out in well-A, which is located in an Algerian hydrocarbons field, the indices of vibrations detection are given with their preventions.

Details

Multidiscipline Modeling in Materials and Structures, vol. 17 no. 5
Type: Research Article
ISSN: 1573-6105

Keywords

Article
Publication date: 12 October 2020

Mary A. Furey, Lawrence T. Corrigan and Jean Helms Mills

This study aims to examine the textual performance of the Ocean Ranger Disaster inquiry, thus responding to recent calls to “practice context” in historical writing. This study…

Abstract

Purpose

This study aims to examine the textual performance of the Ocean Ranger Disaster inquiry, thus responding to recent calls to “practice context” in historical writing. This study goes beyond the epistemological assumptions about the grounds for knowing about the past as the authors explore how history is produced in the context of power relations.

Design/methodology/approach

This paper imagines history-making as a storytelling performance. The authors combine critical historiography and critical sensemaking because these qualitative perspectives help us to understand the composition of the Ocean Ranger Royal Commission Report.

Findings

This case study makes a contribution within the genre of disaster inquiry reporting. The study explains how a formal historical record (the public inquiry report) may be created and how the report is related to aspects of power embedded in a writer’s sense of reality.

Social implications

The Ocean Ranger Disaster continues to be of tremendous importance to the people of Newfoundland, Canada. There have been numerous studies of the disaster, but these have been overwhelmingly focused on technical matters. To authors’ knowledge, this study is the first to consider the inquiry from an historical context perspective.

Originality/value

The study site enables reflection on a question not often asked in the management history literature: How can we critically understand the composition of an official disaster inquiry report in the context of its power relations?

Details

Journal of Management History, vol. 27 no. 2
Type: Research Article
ISSN: 1751-1348

Keywords

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