A is an oilfield repair company with 300 trained technicians who travel to oil wells across...

A is an oilfield repair company with 300 trained technicians who travel to oil wells across the world to solve problems. While field technicians have a truck full of supplies and tools, they often need to acquire extra or unique parts to fix a well. The manager has decided to give a “purchasing card” to each of the 300 field service technician to buy parts as need to expedite the work they do on assignment. Identify three key controls you would implement to insure that the purchasing card is not misused.

Expert Solution

Here I provide all explanation in following image

ekkarill92 answered 1 year ago

An oil company is drilling a series of new wells on the perimeter of a producing...

An oil company is drilling a series of new wells on the perimeter of a producing oil field. About 17% of the new wells will be dry holes. Even if a new well strikes oil, there is still uncertainty about the amount of oil produced: 40% of new wells that strike oil produce only 2,200 barrels a day; 60% produce 6,200 barrels per day. a. Forecast the annual cash revenues from a new perimeter well. Use a future oil price...

A company is considering drilling four oil wells. The probability of success for each well is...

A company is considering drilling four oil wells. The probability of success for each well is 0.40, independent of the results for any other well. The cost of each well is $200,000. Each well that is successful will be worth $600,000. a) What is the probability that one or more wells will be successful? b) What is the expected number of successes? c) What is the expected gain? d) What will be the gain if only one well is successful?...

1. An oil company was evaluating the economic performance of one of its recompleted wells to...

1. An oil company was evaluating the economic performance of one of its recompleted wells to decide whether to abandon it. The company uses 10% MARR or hurdle rate. The well is expected to produce for another 5 years. Year 1 post recompletion revenue was $500,000. Annual revenues are anticipated to drop by $50,000 each year starting in year 2. a) What is the forecast revenue for year 4? b) What is the equivalent annual worth of the revenue for...

A company is considering drilling oil wells. The probability of success for each well is 0.20....

A company is considering drilling oil wells. The probability of success for each well is 0.20. The cost of each well is $5 (in1000). Each well that is successful will be worth $60 (in 1000). 1) If the company drills 4 wells, the probability of at least one successful well is 2) If the company drills 40 wells, the approximate probability of at most one successful well is 3) The expected profit and the variance of profit in 4 drillings...

An oil company wishes to construct a pressurised pipeline of 300 mm diameter to convey freshwater,...

An oil company wishes to construct a pressurised pipeline of 300 mm diameter to convey freshwater, of bulk modulus 2.10x109 N/m2 from a desalination plant to a refinery at a rate of 350 l/s and with a pipe period of 4 seconds. Calculate the corresponding theoretical surge pressure induced within the pipeline by the complete closure of an on-line valve (located at the end of the pipe) in 8 seconds. The valve generates non-uniform retardation of type R = At0.65....

Question