Internship Report on

Weatherford International Pakistan

Submitted By

Waji Ul Hassan (SP17-BBA-043)

Supervised by:

Ms. Humaira Khitab

Department of Management Sciences

COMSATS University Islamabad, Abbottabad Campus

May 2020

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 Internship Report on
Weatherford International Pakistan
Submitted By
Waji Ul Hassan (SP17-BBA-043)

Supervised by:
Ms. Humaira Khitab
This internship report is submitted in partial fulfilment of the requirements for the degree of Bachelor of Business Administration awarded by the
COMSATS University Islamabad (Abbottabad Campus)

Department of Management Sciences

COMSATS University Islamabad, Abbottabad Campus
May 2020

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 Student’s Declaration
I declare that this material, which I now submit for assessment, is entirely my own work and has not been taken from the work of others, save
and to the extent that such work has been cited and acknowledged within the text of my work. I understand that plagiarism, collusion, and
copying are grave and serious offences in the university and accept the penalties that would be imposed should I engage in plagiarism,
collusion or copying. I have read and understood the Assignment Regulations set out in the module documentation. I have identified and
included the source of all facts, ideas, opinions, and viewpoints of others in the assignment references. Direct quotations from books, journal
articles, internet sources, module text, or any other source whatsoever are acknowledged and the source cited are identified in the assignment
references. This assignment, or any part of it, has not been previously submitted by me or any other person for assessment on this or any other
course of study.

I have read and understood the referencing guidelines as recommended in the report guidelines.

Signature:

___________________

Name: WAJI UL HASSAN

Reg # SP17-BBA-043

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Supervisor’s Certificate

This is to certify that Waji Ul Hassan has incorporated all observations, suggestions and comments made by the external evaluators as well
as the internal examiners. The title of the report is “Internship Report on Weatherford International Pakistan”.

Forwarded for necessary action

________________________

Supervisors Signature

Ms. Humaira Khitab

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 Approval Sheet

Weatherford International Pakistan

By
Waji Ul Hassan
(SP17-BBA-043)

_____________________

(External Examiner)
__________________________
Humaira Khitab
(Report Supervisor)
__________________________
Dr. Kashif Rashid
(Head of Department)
Department of Management Sciences
COMSATS University Islamabad, Abbottabad Campus
May 2020

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Scanned copy of internship letter

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 Table of contents

1 Chapter 1.................................................................................................................................1
Introduction to Report..................................................................................................................1
1.1 Introduction................................................................................................................................................................................................. 1
1.2 Background.................................................................................................................................................................................................. 1
1.3 Purpose........................................................................................................................................................................................................ 1
1.4 Scope of Report............................................................................................................................................................................................ 2
1.5 Objectives of the Report.............................................................................................................................................................................. 2
1.6 Liberation of report...................................................................................................................................................................................... 2
1.7 Data collection techniques...........................................................................................................................................................................2
1.7.1 Primary Data........................................................................................................................................................................................ 2
1.7.2 Secondary data..................................................................................................................................................................................... 3
1.8 Layout of the report..................................................................................................................................................................................... 3
1.8.1 Chapter 1.............................................................................................................................................................................................. 3
1.8.2 Chapter 2.............................................................................................................................................................................................. 3
1.8.3 Chapter 3.............................................................................................................................................................................................. 4
1.8.4 Chapter 4.............................................................................................................................................................................................. 4
2 Chapter 2.................................................................................................................................5
Introduction to the Organization.................................................................................................5
2.1 Introduction................................................................................................................................................................................................. 5
2.2 Mission......................................................................................................................................................................................................... 6
2.3 Business Form.............................................................................................................................................................................................. 6
2.4 Departments Working at Weatherford........................................................................................................................................................7

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 2.4.1 Human Resource.................................................................................................................................................................................. 7
2.4.2 Administration Department................................................................................................................................................................. 8
2.4.3 Finance................................................................................................................................................................................................. 8
2.4.4 Engineering.......................................................................................................................................................................................... 9
2.4.5 Logistics and Procurement................................................................................................................................................................. 10
2.4.6 Legal................................................................................................................................................................................................... 10
2.5 Health and Safety....................................................................................................................................................................................... 11
2.6 Culture....................................................................................................................................................................................................... 11
2.7 Challenges to Finance Function..................................................................................................................................................................11
3 Chapter 3...............................................................................................................................13
Job Description and Analysis.....................................................................................................13
3.1 Introduction............................................................................................................................................................................................... 13
3.2 Job Rotation............................................................................................................................................................................................... 13
3.2.1 Digitizing Data.................................................................................................................................................................................... 13
3.2.2 Matching Vendor Invoices to Contracts:............................................................................................................................................14
Matching Customer Contracts to Invoices.........................................................................................................................................................14
3.2.3 Pivot Tables........................................................................................................................................................................................ 14
Reviewing Annual Reports................................................................................................................................................................................. 14
3.2.4 Filing data........................................................................................................................................................................................... 14
3.2.5 Tagging of Fixed Assets...................................................................................................................................................................... 14
3.2.6 Reviewing of Bank Reconciliation and matching it with the Statements...........................................................................................15
3.2.7 Identification of long outstanding travel vendor invoices..................................................................................................................15
3.2.8 Preparation of a vendor contract summary.......................................................................................................................................15
3.3 SWOT Analysis........................................................................................................................................................................................... 15
3.3.1 Strengths............................................................................................................................................................................................ 15

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 3.3.2 Weaknesses........................................................................................................................................................................................ 16
3.3.3 Opportunities..................................................................................................................................................................................... 16
3.3.4 Threats............................................................................................................................................................................................... 17
4 Chapter 4...............................................................................................................................18
Suggestions and Recommendations...........................................................................................18
4.1 Findings...................................................................................................................................................................................................... 18
4.1.1 Skilled and trained workforce............................................................................................................................................................18
4.1.2 Diversified culture of organization.....................................................................................................................................................18
4.1.3 Health and Safety of Employees.........................................................................................................................................................18
4.1.4 High Quality Services.......................................................................................................................................................................... 19
4.1.5 Employee Evaluation.......................................................................................................................................................................... 19
4.1.6 No communication barrier................................................................................................................................................................. 19
4.1.7 High employee turnover and lack of industry stability.......................................................................................................................19
4.2 Recommendations..................................................................................................................................................................................... 19
4.2.1 Restricted access to software.............................................................................................................................................................19
4.2.2 Increased number of internships.......................................................................................................................................................20
4.2.3 Time and guidance to internees.........................................................................................................................................................20
4.2.4 Paid Internship................................................................................................................................................................................... 20
4.3 Conclusion.................................................................................................................................................................................................. 20
4.4 References................................................................................................................................................................................................. 21

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List of Abbreviations

UEP United Energy Petroleum

ENI Ente Nazionale Idrocarburi

HSE Health, Safety and Environment

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 Executive summary
This internship report is based on Weatherford which is one of the largest oil and gas service company. The main objective of this internship
is to gain experience in the workplace and how to know how the organization works before going into the practical life. The Higher Education
of Pakistan has made it mandatory to do six-weeks internship for BBA program

This internship has many benefits for students as they can learn new skills or improve their existing one. It also helps student to learn how to
apply your academic knowledge at workplace. So for that I choose Weatherford to exposure my field of specialization i-e Accounting and
Finance.

This report is basically divided in four chapters due to which it is easy to read and understand. The first chapter is about the introduction of
this report, background, objective and purpose of the report. Further it will explain the techniques of data collection.

Second chapter includes the information about the background of the organization. In which we will discuss the function of Weatherford and
also discuss that how it is working in our society and it is providing benefits to our society. Further in this chapter we will discuss the detail of
its departments and how these department work.

Third chapter basically includes activities and functions of Finance department. It also includes the tasks which were given to me and
performed by me and in what field I have worked.

Fourth chapter includes the detail about the workplace and my personal observation and experiences in Weatherford and in end of this report
we will explains the findings and conclusion about the organization

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1 Chapter 1
Introduction to Report
1.1 Introduction
There is a policy of COMSATS University for its students to acquire some practical experience as an intern in any relevant organization according to
their specialization. for the completion of the degree of Bachelors of Science in Business Administration (BBA). My specialization is in Finance and
Accounting so I choose Finance department to do internship. Internship is the first step for professional life. Which give your idea that how will be the
professional life. There will a difference between what you think and how the organization really is. So Weatherford is the organization which gives
experience and skillset to the interns, which helps him to move into the professional life.
The internship report is based on Weatherford which is one of the largest multinational oil and gas company that provides products and services for
drilling, evaluation, completion, production and intervention of oil and natural gas wells.
The internship report is based on internee’s personal experience in an organization.

1.2 Background
Students of business administration are required to have an internship of 6 weeks in any national or international organization. it is mandatory
requirement by Higher Education Commission to have an internship and to for the completion of their degree by Higher Education Commission.

1.3 Purpose
The purpose of this report is to present the overview of Weatherford, the responsibilities and duties performed by the company. It also provides
information related to the departments and duties of the company, and how it regulates its departments. The purpose of writing this report is to evaluate
the organization and give conclusion and recommendation in this report on the basis of evaluation.

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1.4 Scope of Report
the scope of this report is limited due to the following reasons:

 time limitation of six week

 no access of the organization’s confidential data to the internee.

the details regarding finance department will be explained later in this report. That how finance department works and what is its duty.

1.5 Objectives of the Report

The objective of internship report is to provide students an opportunity to acquire knowledge, skills and experience of working within an organization.
This will help students to understand the working environment of the organization, that how an organization works. It builds confidence in students.

1.6 Liberation of report

It is desire of every student that he work in reputable organization after graduation. Internship is the basic step to enter into a professional that gives an
opportunity to intern to evaluate the professional life and see the difference between what he was thinking and what it really is. The internship provides
experience to the internee. It helps in gaining skillset that is the requirement of the industry. It also provides supervision of talented staff that help in
enhancing my skills.

1.7 Data collection techniques

Different data collection techniques are used in this report.

 Primary data collection

 Secondary data collection

1.7.1 Primary Data

That first hand data which is collected by the internee during working at workplace are primary

Data that is collected for the first time by the researcher from main sources. Following are the ways of collection data in this study.

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 observing the organization’s daily activities.
 interviewing the employees.

1.7.2 Secondary data

The data that is acquired in the past by a person. And we get the data from secondary sources. like internet, books, journals.

Following are the ways of collection of secondary data in this study.

 Website of Weatherford.
 Annual Report of the company.

1.8 Layout of the report

The report is divided into four chapters.

1.8.1 Chapter 1
This chapter contains the data that provides the details of the report that are:
 The reason behind writing the report.
 The objective of the report.
 The purpose of the report.
 The data collection techniques have been used.
 The layout of the report.

1.8.2 Chapter 2
The history of the organization is provided in detail in chapter 2, it also provides details of departments, furthermore the role and function of each
department is also explained in this chapter. The main concentration is n that department in which internee worked during internship.

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1.8.3 Chapter 3
The chapter 3 of internship report includes details about internee working experience and functions performed by internee during internship is given.

1.8.4 Chapter 4
In the last chapter the internee had done analysis of organization, strengths and weaknesses and on the basis of analysis internee provides conclusion and
recommendation.

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2 Chapter 2
Introduction to the Organization
2.1 Introduction
Weatherford is one of the largest oil and gas service company of the world. It operates in more than 100 countries and employee number of more than
60,000 worldwide. The company was founded as Weatherford spring by Jesse E, Hall Sr in 1941 in Texas, which was renamed Weatherford Oil Tool
Company (WOTCO) with ownership by Jesse Hall, his son, Elmer, James E. Berry, and Juan A. Perea. From its inception, the company pioneered an
innovative technique and equipment for the cementing of cased-hole oil wells. Originally marketed to US wells owners. Since then the company
underwent some mergers and did some acquisitions which increased growth as well as market share for the company. It is headquartered in Ireland
while operational headquarters are in Houston, Texas. Weatherford is known because of the quality of the service it provides, it is competing with the
largest oil and gas companies which has built its repute because of its quality services and is competing with some of the largest oil and gas
multinationals for instance Schlumberger, Baker Hughes. It is the market leader when it comes to artificial lift system and has a diverse range of inline
inspection oil exploration originally started off in 1912 in Oklahoma.
It operates in the following locations:

 North America
 Latin America
 Middle East and North Africa
 Europe and Caspian
 Asia Pacific
 Russia
 Sub-Sahara Africa

It provides unbeatable value to customers all over the globe and for every phase of the well life cycle. It strives to perform each job with flawless
execution to protect assets, personnel, and the environment while delivering high value solutions to the most significant energy challenges facing its

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customers. To continue to meet customer challenges head-on, it delivers integrated solutions that provide fast, safe, and cost-effective solutions. Rather
than basing these solutions by well life cycle, it organizes them by key domains. These domains represent some of customer’s most pressing challenges:
mature fields, unconventional, offshore, and digitalization and automation. Its customers are at the heart of what it does, and their satisfaction is our
everyday goal. In mature fields, the fastest and most economical way for its customers to generate additional free cash flow and improve returns is to
improve production. Its suite of production optimization and management solutions help operators extend the life of every well.

2.2 Mission
“Weatherford’s mission is to deliver innovative technologies and services designed to meet the world's current and future energy needs in a safe, ethical,
and sustainable manner”.

2.3 Business Form

Weatherford is one of the leading wellbore and production solutions company it operates in more than 80 countries. To face the challenges of the
industry it has globally 20,000 team members on 610 locations. It believes employees are the most important asset of any successful organization. It has
highly equipped and trained employees which are working on the research and development round the clock. Being one of the leading multinationals in
the oil industry, it uses the high end technology to address the issues faced in the field. The Company ensures well integrity and drilling reliability, novel
reservoir completion and stimulation technology that optimizes recovery. The Company places a strong emphasize on the safety of its employees and
mark them up to the highest standards as they are working in a hazardous environment. It delivers best-in-class solutions to the energy industry and seek
to be at the cutting edge of innovation. It treats its employees and earth the best it can to spread the positivity.

It provides the following products and services in the oil industry:

 Drilling and formation evaluation

 Well construction
 Completion and Stimulation

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 Production

2.4 Departments Working at Weatherford

 Human Resource
 Administration
 Finance
 Engineering
 Procurement and Logistics
 Legal
 Health and Safety

2.4.1 Human Resource

Human Resource department in an organization has its own importance considering its role of dealing with employees. Its responsibilities include
finding, screening, recruiting, training job applicants and administering employee benefits. Hiring of competent employees for the roles is a challenging
task, employees being a valuable asset of an organization. Human resource key role includes arranging trainings for employees to keep updated with the
industry practices. Training and development is an integral part of HR. The company places strong emphasize on it to enhance the capability of
employees. It conducts the yearly training for it field employees to familiarize them with updated technology and the field practices. It also conducts HR
training regularly for office employees to ensure everyone understands the policies of HR. Once the employee is hired, the department gives a detailed
orientation on its policies and briefs the culture of the organization. It conducts a one-week training to ensure the employee understands the dynamics of
the Company and nominates an individual in their respective departments to train them their work. The department ensures the Company complies with
the workplace regulations and labor law to avoid any repercussions.
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Human Resource second main duty is role also includes maintaining records of employee performance for evaluating them. After the evaluation the
result is discussed with the management and on the basis of which rewards are given to the employees. The Company arranges training for those who
lag behind.

The departments put policies and procedures in place to ensure the employees are retained in an organization by offering them lucrative salaries,
bonuses or rewarding them well to boost their work morale.

A good organization is where the absolute number of employees are hired so as to avoid the employee turnover.

2.4.2 Administration Department

Administration department is responsible for managing the day to day operations of the Company. An administration department plays vital roles in the
smooth running of the business. It is very difficult to run an organization without a good administration department. Administration department is a
department on which all other departments rely for several things. It is responsible to ensure the efficient and effective performance of all other
departments in an organization. The Administration Department is responsible for providing administrative and technical support in the areas of
strategic planning, budgetary control, human resources and other day to day operations of the organization. The duties of an administration department
include clerical tasks (answering, telephones, scheduling project management and most importantly drafting documents).

Weatherford being a multinational organization has a vast number of day to day activities for which it has one of the most efficient administration
departments in the industry having the utmost competent staff.

2.4.3 Finance
Finance department is one of the most essential departments providing the support function to an organization. Behind every successful organization is a
strong finance function. The main role of the finance function is to acquire funds for the firm, manage funds within the organization and plan for the
expenditure of funds on various assets. This department ensures efficient financial management and control. Recordkeeping being a major task and
backbone of every financial transaction is a major task of finance. Its other important tasks include management of Company’s cash flow, budget and

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 forecasting, advising and sourcing long and short-term financing, management of taxes, management of company’s investments, financial reporting and
analysis and assisting managers in making key strategic decisions.

Weatherford hires highly qualified individuals and trains them regularly to ensure the efficiency of its department. For ensuring the accurate, effective
and transparent recording of transactions, Weatherford uses Lawson ERP software and Oracle modules.

The Finance function at Weatherford was further divided into Accounts Payables (which is responsible for receiving and processing invoices and
claims, recording and disbursing salaries), Accounts Receivable (raises invoices, records revenue and recovers amounts), Fixed asset and inventory
management (record the purchase and sale of fixed assets and inventory and depreciation of assets etc.) and Financial Analysis (analyzes the financial
position and performance of the Company regularly by using Hyperion Financial Management module).

2.4.4 Engineering
Engineering is the main field of the organization since it is a services based organization and provides services to exploration companies. It has various
segments and sub-segments where the teams are working efficiently and effectively to provide the services to its clients. The team work is a core
success factor in meeting the targets of the Company.

The organization has four engineering segments which are further broken down into sub segments as follows

 Drilling and formation evaluation is responsible for providing drilling services, managed pressure drilling, wire line services, surface data logging
systems and reservoir solutions.
 Well construction is responsible for providing tribunal running services, intervention services, drilling tools and rental equipment and land drilling rigs.
 Completion and Stimulation provides liner systems, cementing products and completion systems.
 Production facilitates in artificial lift systems, pressure pumping and testing and production services.

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2.4.5 Logistics and Procurement

Procurement department is essential for its work nature of choosing competitive prices, scheduling of orders and goods that are in great demand among
buyers, as well as purchasing the novelties of goods that compete very well with the old. Procurement or sourcing can be defined as collecting materials
from supplier, whereas Logistics is the major process that involves several things from supplier to end-customer in which IT plays an important role.
Procurement could be a part of logistics department. The logistics main role at the company is the best optimization of all processes. It allows the
company to reduce all kinds of products inventory in the production, supply and sales, accelerate the turnover of working capital, reduces production
costs and to ensure full customer satisfaction in the quality of goods and services.

Weatherford being a service company in the oil industry procures or imports the most innovative and complex equipment for the effective performance
and smooth operations. The department finds out the best vendor with competitive prices available in the market locally or globally. This department
stays vigilant all the time to ensure the engineering department gets the best quality machinery which meets the needs of the clients. Also, it ensures the
procurements are up to the mark and reach the organization timely to meet the specific demands.

2.4.6 Legal
Legal department holds significant importance in a company. Its presence in a company assures the preventions of any legal issues arising. It plays an
essential role in drafting and reviewing contracts, employee’s policies and handling any court cases. This complex department is available for all
litigations, investigations, compliance, mergers and acquisitions.

Since Weatherford is a multinational and a complex organization, it has to comply with enumerable regulations locally and internationally. Because of
the nature and quantity of procurements it has to make contracts with suppliers for which the legal department is responsible. Legal department
regularly updates the policies of the Company to ensure the Company abides by all the legal regulations.

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2.5 Health and Safety
Health and Safety department is a sensitive department in Weatherford being the nature of the operations a company undertakes. The employees deal
with the hazardous equipment and chemicals at the rig site and ensuring safety is the prime responsibility of the Company and department. Its main aim
is to prevent the accidents, injuries and work related illness in the work place. It creates and implements health and safety policies across the
organization in accordance with the latest legislation and ensures that management and employees abides by these policies. The HSE department of the
Company conducts rigorous visit of the Rig sites and warehouse of the company to ensure all health and safety standards are in place. The Company
conducts a weekly meeting with its employees to brief and train them any latest policy or make them aware of any accident occurred. A strict warning
and punishment is imposed by the department if anyone in the Company fails to meet the HSE regulations.

2.6 Culture
Weatherford offers a complete diversified culture for its employees. It considers its employees the most valuable asset. It has employees from different
culture, ethnicities and counties under one roof. It offers the friendliest culture to employees with flexible mode of work. The employees are free to
exchange different ideas among them. The organization conducts various activities and events to encourage employee involvement and this way they
could know each other well. They do not have any formal dress policy to comfort the employees in the work environment. Employees from different
culture, different religions work together under one roof.

2.7 Challenges to Finance Function

The main challenge which the finance function is facing is the change in the organizational structure. In recent years’ technology has transformed the
way transactions are processed with much now outsourced, often overseas. The Company is considering outsourcing few of its functions to optimize the
record keeping of the data. There has been a demand for the increased involvement of finance people bringing them closer to the frontline of the
business, converting data into information as a decision support resource to management in other areas of the business. Since it is a multinational
Company, it involves a huge amount of transactions which involves subjectivity in calculating them. Since the Company has to abide by the complex

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tax regulations, calculation of taxation involves subjectivity which in turns poses a challenge to the Organization. The Company incurs several
transactions globally which gives rise to a huge amount of foreign exchange difference, the calculation of which is a challenging task.

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3 Chapter 3
Job Description and Analysis
3.1 Introduction
In this chapter I will be discussing the experiences gained during my internship at Weatherford. Weatherford, being a multinational provided me with a
diverse experience of a working environment. It not only helped me gain professional experience but also boosted my confidence. The culture of the
organization helps a lot in shaping its people’s career. The organization had a friendly culture where the employees and supervisors shared a bond of
equality and friendship rather than being autocratic.

I got a chance to work with the Finance Department for a period of six weeks. Although, they gave me an introduction of all other departments, but I
worked mainly in the Finance Department. I got to meet the relevant personnel of other departments while performing different tasks. They gave me a
walkthrough of the procedures performed in their department including the duties of its sub-departments and individual employees.

3.2 Job Rotation

I worked as an intern in the finance department of one of the leading oil and gas companies, which gave me an outstanding experience the things we
usually come across in our books. I got a chance to learn the things which I had been hearing and reading in my past semesters. I worked under the
supervision of Ms. Sana Qureshi. I worked with the Account Payables, Receivables and Treasury department in finance. I learnt digitizing data,
matching vendor invoices to the contracts, matching customer contract to respective invoices, using pivot tables, reviewing annual reports, filing the
data, tagging of fixed assets, reviewing bank reconciliation and bank statements, identification of long outstanding invoices and summary of a contract
with client.

3.2.1 Digitizing Data

I digitized a few vendor invoices which included the vendors, K.K.C and Shaheen Freights during my internship. This not only helped me improve my
typing speed but also give me an insight of using the formulas in MS. Excel which is one of the essential office tools used in the finance function daily.

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3.2.2 Matching Vendor Invoices to Contracts:
I was given a task to match vendor invoices of Serena Hotel to those of its contract to confirm if the vendor invoices are in accordance to the terms and
conditions specified in the contract. This helped me improve my skills of reviewing and gave information of what an invoice must include.

Matching Customer Contracts to Invoices

I was given a task by the receivable department to cross match terms and conditions stated in the contract of UEP and ENI to ensure accuracy.

3.2.3 Pivot Tables

After digitizing the data of two vendors mentioned above, I was given the task of sorting the data out, which I did best using pivot tables. I gave me an
insight of how MS. Excel did sort out the data cost-wise, account-wise and department-wise in just a click.

Reviewing Annual Reports

I was given the annual report of the previous year 2019 by the management to see what activities and how well was Company operating.

3.2.4 Filing data

Recording of data is one of the key accounting concepts, without proper recording a Company cannot be successful. Proper recording includes accurate
filing of data. I was given the invoices of the client by the Receivable department which I had to file client wise and refer to the main file and get them
scanned and uploaded by their central uploading department which uploads all data online globally.

3.2.5 Tagging of Fixed Assets

I assisted in an assignment of fixed assets which was being conducted by one of the individuals in their finance department. I was given a fixed asset
register of the accounting head of “Furniture and Fixtures” at office work place. I assured the fixed assets mentioned in the Fixed Asset Register existed
at the work place and marked them in the register. I highlighted the untagged assets and tagged them accordingly as instructed by the management.

3.2.6 Reviewing of Bank Reconciliation and matching it with the Statements

The treasury department demonstrated me of how a bank reconciliation was made and its purpose. I was given a task to review the Bank Reconciliation
for the month of February and confirm whether the un presented cheques were cleared in the bank statement for the month of March. I found it an
interesting task.
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3.2.7 Identification of long outstanding travel vendor invoices
I was given a task to identify the long outstanding travel invoices for a period of more than 90 days. This elaborated me of how the aging analysis was
prepared.

3.2.8 Preparation of a vendor contract summary

This helped me improve my analytical skills and evaluating things critically.

3.3 SWOT Analysis

SWOT Analysis is an important tool to analyze an organization. It is a tool to identify its internal strengths and weaknesses and external opportunities
and threats. Organizations use it as a tool of planning and decision making.

The Weatherford has some strengths and weaknesses as well which are discussed in the SWOT Analysis.

3.3.1 Strengths
Strengths are the integral part of an organization, some of which are stated below:

 It is globally present in more than 100 countries and have employees of around 60,000 in the company.
 It provides the clients with the best quality service and equipment to avoid any production delays which builds the customer confidence.
 It supplies its products from large and reliable suppliers to get the quality supplies and avoid any delay in deliveries which gives rise to a smooth
supply chain.
 Weatherford spends a lot in training its employees regularly to keep them updates with the best working standards. The constant training of
employees boosts the work morale of employees which leads to efficient work.
 It has unique services which are not offered by its competitors.
 The company has skilled labor workforce which comes from different backgrounds bringing innovative and diverse ideas. Skilled workforce is a big
asset for the organization.
 Since it is a large organization with strong cash flows, the company has an edge in investing the cash in other new projects.

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3.3.2 Weaknesses
Weaknesses are embedded in an organization. Following weaknesses of Weatherford are mentioned below:

 The organization has the high turnover rates considering the volatility of the Oil and Gas sector. There are less joiners as compared to the leavers in
Weatherford.
 Work load on employees is higher as employees are not in proportional to the work. Employees are over burdened with work which may affect the
work morale of employees.
 It has limited success in some segments, as the organization as heavily dependent on the income from services like Artificial Lift System as
compared to the other services which makes the organization vulnerable to threats if the income from the main services suffer.
 Centralized decision making in the organization has slowed down the decision making and planning process because of the increased authority
levels, it consumes a lot of time in reaching the desired decision.
 The increased costs including the taxation and import duties have led to decreased profits.

3.3.3 Opportunities
Following are the opportunities of Weatherford:

 New technological developments for automating some of the operations may give rise to reduced costs.
 The company has a good cash flow statement which allows them to avail an opportunity of investing into new products and technologies leading the
company towards greater profitability and market share.
 Weatherford can work on expanding its products since a number of new markets have opened up.
 The qualified and skilled individuals in our country have increased as a greater number of alumni are created by universities every year, which gives
an opportunity to the company of hiring skilled employees leading to reduced training and development costs of employees.

3.3.4 Threats
Organizations are posed to open threats in the market, some of which are stated below:

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 Higher inflation rate in Pakistan has brought about an instability in the market which has led to higher interest rate to the customers which leads to a
distorted work cycle.
 Rising taxation rates by the government has affected its way of carrying out business and has posed a serious threat of decreasing sales and
profitability of the company.
 Entrance of new players in the industry for instance the Chinese Oil and Gas Companies are offering lower prices to their clients which has
ultimately decreased the profitability of the company.
 Unstable political situation in Pakistan is and stagnant economic development may have an adverse effect on the company.
 Constant changing of liability laws may expose the company to liability claims which in the past didn’t occur.
 Since the world is moving towards the use of environmentally friendly products, the entire oil industry faces a serious threat of adopting quick
measures and using environmentally safe equipment.

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4 Chapter 4
Suggestions and Recommendations
4.1 Findings
4.1.1 Skilled and trained workforce
Weatherford considers its employees as the greatest asset in the organization. Its finance team comprised of highly skilled workforce from the Big Four
Accountancy Firms which provided them with a hands-on knowledge-based experience of the accounting standards. Moreover, Weatherford conducted
yearly training for all employees of all segments to ensure the employees possess the updated knowledge thus enhancing the work morale and
competency of employees.

4.1.2 Diversified culture of organization

Weatherford provided its employees with the most diversified culture as its employees comes from any race, ethnicity and background. The cultural and
religious values of all employees are appreciated. It provides its employees with a friendly culture to avoid spreading hostility or confrontations among
employees. The management rather treats all employees equal, they are evaluated based on their performance. Company offers events and activities for
employee involvement. The employees seemed self-contented and happy with the work culture they were working in.

4.1.3 Health and Safety of Employees

Health and safety of employees are given an utmost importance at Weatherford. The company has maintained high standards of safety at work place by
conducting weekly HSE meetings, sudden safety drills to prepare the employees of any hazardous situation, placing fire extinguishers and hoses in all
corridors for which a training is conducted for all employees, placing hand sanitizers in all corridors, not allowing employees to climb up or descend
down the stairs without the support of railings to avoid accidents and provision of safety and hygiene kits to all of its employees. The company also
conducts a one-day safety training for interns and newly hired employees. Online HSE training are available on monthly basis to employees.

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4.1.4 High Quality Services
Weatherford provides high quality services to its clients and is renowned for that. Its services are considered reliable, timely and of high quality. They
have a complete consumer confidence in their work.

4.1.5 Employee Evaluation

Employees are evaluated quarterly, half yearly and yearly based on their performances. Those with good performance are rewarded with performance-
based bonus, gift or an appreciation award, all this motivates employees to do better and excel in what they do. This not only improves the employee
turnover rather boosts their confidence in the employer.

4.1.6 No communication barrier

The company believes in two-way communication. All employees are free to share their ideas or concerns with their supervisors. The lower-level
management can easily communicate with the higher-level management, they consider the concerns of employees and sort them out on priority basis.
Meetings with the counselor are conducted every second month to avoid any grudges and issues in the system. Moreover, the management at distant
locations is available through Lync.

4.1.7 High employee turnover and lack of industry stability

The employee turnover in the Oil and Gas sector is comparatively higher than other industries. This is because of the volatility in the oil prices and
uncertain hazards. This has led to a fear of losing jobs in employees which doesn’t only demotivates employees but also affects their performance thus
affecting the overall performance of the company.

4.2 Recommendations
4.2.1 Restricted access to software
Being an internee, I was not given access to their accounting software at all. However, I was provided with tasks which made me learn but the denied
access was a turnoff. A restricted not full access of the system software may be given to internees to give them a walkthrough and further knowledge of
the system.

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4.2.2 Increased number of internships
A limited number of internships are taken during the year. The number of internships should be increased so that more individual could get chance to
avail the opportunity of working in this multinational, since this organization could give a diverse experience to individuals.

Provision of information for internship report

During my internship, I found management reluctant in providing me with the information required in completing my internship report. Given the
privacy of the organization, limited information is available online. The management should help internees in providing them with the essential
information required for completing the internship report.

4.2.3 Time and guidance to internees

Being an internee, I was given very less time and guidance by the management in explaining me the structure of the organization and the given tasks
which took me time to complete my given tasks. The management should find ways to give guidance and time to internees so they could learn better,
and their confusions gets settled.

4.2.4 Paid Internship

Internees are not paid any stipend for their internship; the company should try giving them a minimum stipend of PKR 10,000 monthly to motivate them
for work.

4.3 Conclusion
Internship at Weatherford had been a valuable experience. Weatherford familiarized me with the clearer picture of the corporate environment. Being a
multinational, it provided me with a platform where I tried to enhance my communication skills by communicating with different people. I interacted
with the other departments as well which helped boost my confidence. During the six weeks’ tenure as a finance internee, I found employees and
trainees very helpful and hardworking. They promoted team work in carrying out their tasks to equalize the status of all employees. They provided me
with a good comfort zone where I could work effectively without being interrupted by anyone at office.

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I learnt the basic accounting knowledge and implemented it while performing my tasks there. The experience not only flourished my knowledge but
also my interpersonal skills which we need in our daily lives. I socialized with different people of different departments which helped me build contacts
for a professional life. I figured out how every department was linked in another way to the finance department and one another.

4.4 References
https://www.weatherford.com/en/investor-relations/financial-information/annual-reports-and-proxies/ (Retrieved May 2020)

https://pk.linkedin.com/company/weatherford (Retrieved May 2020)

https://www.weatherford.com/en/ (Retrieved May 2020)

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