Research On EVA Performance Evaluation System Of Zhongyuan Oilfield Company

EVA as an effective management tool, guides enterprises toward the goal of maximizing the value of development. The SASAC demands the central enterprises to introduce EVA performance appraisal system to improve enterprise value. Especially the Party’s Third Plenary Session of the Eighteen proposed to let the market play a decisive role in the allocation of resources, highlighting the urgency of implementing EVA performance evaluation of central enterprises. Sinopec as a world-class energy company, needs to continuously enhance the corporate value and create wealth for shareholders. Continuously since2010, Sinopec has gradually explored creating with EVA as the core of the performance appraisal system and increased the proportion of EVA in the performance index system, leading the oilfield company management concept changed from the profit oriented to value the guide. And demands the oil companies to enhance the EVA assessment into oil production plant of the main responsibility, to implement of EVA performance evaluation system in2or3years to achieve the goal of overall value management. This paper is based on the background and purpose, the combination of qualitative analysis and quantitative analysis, normative analysis and case analysis, combining theory with practice and other methods, expounds EVA and EVA performance appraisal theory, in-depth analysis of the current situation of performance appraisal of Zhongyuan Oilfield Branch Company, pointing out the necessity of implementing EVA performance appraisal, exploration on the construction of Zhongyuan Oilfield Company EVA performance evaluation framework. Zhongyuan oil field is putting forward the calculation method of EVA and EVA target for Zhongyuan Oilfield characteristic values of practical, in order to ensure the smooth implementation of EVA performance appraisal and to achieve the desired results, proposed the corresponding measures in detail EVA performance appraisal. The implementation of EVA performance evaluation through research established a set of index that is more reasonable, scientific, clear of roles and responsibilities, easily operating the EVA performance appraisal system, It is expected to finally realize the transformation of enterprise management concepts, to change the enterprise managers and staff’s point of view from the shareholders to owners, continuously enhanceing the corporate value creation capability and value management.