Background: I am an Internal Auditor at a medium sized oil field manufacturing company, we are fairly diversified with 3 segments and 6 product lines. I am looking to get out of audit and have two opportunities in the F&A organization which have popped up.
The first one, and the one that I have had the most discussions on is in our Subsea product line. I would be the accounting manager for for one of our subsea businesses. I've talked to the plant manager and the controller, and I am speaking to some more people today and I have several questions I want them to answer for me but my biggest concern is the general outlook for the subsea sector.
For the subsea business we are in (mainly manufacturing ROVs and ROV launch and recovery systems) is down. The jobs we have are making good money they just don't have a lot of them. The plant I would be over has 6 on going jobs (a few years ago they had on average 8-12) but 2 or 3 of those are nearing completion and will be shipped probably before I would rotate into the job. We are expecting more business but it is all from a single customer at this point in time. My concern is obviously that I would take this role and in 6 months I'd be basically just keeping the doors open hoping for more business to materialize and then in 12 months be presiding over the plant shutting down. We keep hearing about a recovery and how it has to happen eventually, and honestly that product line is the one that interest me the most within the company, I just doubt it's viability given the current state of things.
The first one, and the one that I have had the most discussions on is in our Subsea product line. I would be the accounting manager for for one of our subsea businesses. I've talked to the plant manager and the controller, and I am speaking to some more people today and I have several questions I want them to answer for me but my biggest concern is the general outlook for the subsea sector.
For the subsea business we are in (mainly manufacturing ROVs and ROV launch and recovery systems) is down. The jobs we have are making good money they just don't have a lot of them. The plant I would be over has 6 on going jobs (a few years ago they had on average 8-12) but 2 or 3 of those are nearing completion and will be shipped probably before I would rotate into the job. We are expecting more business but it is all from a single customer at this point in time. My concern is obviously that I would take this role and in 6 months I'd be basically just keeping the doors open hoping for more business to materialize and then in 12 months be presiding over the plant shutting down. We keep hearing about a recovery and how it has to happen eventually, and honestly that product line is the one that interest me the most within the company, I just doubt it's viability given the current state of things.