Perenco has cultivated its uniqueness from the beginning
"Our family and independent structure gives us agility but also requires us to generate significant self-financing capacity, to support innovation, and pursue our investment programs. It also requires us to make a lasting commitment in the countries where we operate and to offer our employees personalized and compelling expériences.
Each year, the company demonstrates its operational excellence and its ability to take on ambitious challenges.
Production has evidently progressed, reaching 465,000 boepd in 2019 due to a sustained strategy of external growth and development, with two major projects: the commissioning of the FLNG in Cameroon which upgrades gas and condensates, and the acquisition of several assets in Gabon, onshore and offshore, which offer a real synergy with Perenco's historic assets.
This improvement must now be consolidated and maintained through our technical and economic know-how, which is clearly demonstrated in how we control our costs, our ability to integrate expertise, the way we develop our assets and ensure rigorous maintenance - a real source of performance of across operations; and without forgetting security and integrity, which is at the heart of our commitments.
This know-how is supported by a real empowerment of the teams and the local management, who are the most capable of guaranteeing the integrity of the people and in turn the installations.
For me, it is essential that each employee can go to work with full confidence, in a relaxed and constructive environment.
Another major area of development concerns the consolidation of our activities in the various countries where we operate, such as at Wytch Farm in the United Kingdom where we now own 95% of the assets. This policy, supported by new projects such as Maobi (Cameroon), Simba or Ganga (Gabon), allows the Group today to have a net/gross ratio of 60%. This consolidation is fully in line with the business model of the company: buying marginal production, rationalizing, transforming, developing, strengthening and stabilizing. A model that also applies to our projects exploring new fields, for which we favour the most relevant projects, allowing us to enhance our know-how and our ability to innovate on a daily basis.
It is the sustainability of our model that allows us to make a positive contribution in our partner countries, to be a reassuring presence and constant listening to their needs. The FLNG project is a perfect illustration of this. A major project with a considerable local impact for Cameroon thanks to the production of 30,000 tonnes of domestic gas, reducing the country's import bill by 40%.
Finally, together with the management team, we strive to develop an involved and open management to allow everyone to express themselves and fully develop within this family business. Because, I do not forget, it is thanks to technical excellence, a taste for innovation and a spirit of responsibility, all demonstrated by the women and men of Perenco, that we will be able to meet the challenges of tomorrow."