Research On The Comprehensive Budget Management For The Yellow River Drilling Company 3th Branch

Third Drilling Company of Huanghe Drilling Company,a key enterprise of Huanghe Drilling Corporation of SINOPEC Petroleum Construction Shengli Corporation,always adheres to the principle of “Quality First and Customer Foremost”,strictly abides by contracts,keeps promises,creates its own brands relying on strict management,high quality and advanced technologies,and has won the respect and trust of the Owner since its establishment in 1983.Affected by unstable petroleum markets worldwide in recent years,SINOPEC Petroleum Construction Shengli Corporation was significantly affected by internal and external circumstances,thus,the Company encounters such challenges as severe shortage of work quantities,slow equipment upgrading and year-on-year growth of costs in material and labor,which not only reduces the profits but also forces the Company to complete the well development tasks in addition to achieving the annual operation contracting indicators.To adapt to new situations of insufficient work quantity,reduction of fixed price and high loan interest,higher requirements are raised for the establishment and improvement of comprehensive budget management system.The Company has achieved good effects in production optimization,speed & efficiency increase,potential tapping,income increase,etc.by implementing the fine cost management with internal control and management as the basis,which speeds up the effective integration and optimal allocation of drilling resources,further clarifies the objectives of the Company for fine cost management and strategic development and significantly promotes its management level in various aspects.It is now a new challenge for the Company to seek approaches to implement and control comprehensive budget management for whole-process and all-round management in a real sense.In this paper,good management environment and relevant platform are built throughout the Company based on the current situations of its operation,management and comprehensive budget management,with the participation and support of all personnel to prepare guarantee measures and seek solutions for various problems.Meanwhile,a comprehensive budget framework system suitable for the Company is established by referring to advanced budget management methods at home and abroad and making full use of management methods and measures implemented by SINOPEC Petroleum Construction Shengli Corporation.It is expected that this paper can be useful for improving the comprehensive budget management of the Company and provides guarantee for the implementation of comprehensive budget management in the Company.