Perenco is a leading independent Oil & Gas Company operating in 16 countries across the globe, ranging from Northern Europe to Africa and from Latin America to the Middle East. Perenco is running operations both onshore and offshore. Find out more about our activities in Peru, Gabon, DRC, Guatemala and UK and about Perenco community actions in CSR dedicated website. Perenco's success relies on a team of dedicated engineers and technicians : read their testimonials on our Careers website.
In 2011 Perenco performed well. We increased our production profile by 20% to 300 000 boepd. There was important activity in all regions and we invested over $ 1bn.
We enjoyed success in ensuring the future of Perenco by extending our positions in two countries that are key to Perenco, Gabon and the UK. In Gabon we have reached an agreement to extend Perenco?s activity in the country until 2031. This is clearly a sign of trust in Perenco by the State of Gabon, where our track record began in 1992 and where some $ 2bn will be invested between now and 2016, continuing to create value for the country.
Meanwhile, Perenco has been continuing to invest in our UK portfolio, with the acquisition of the stake in the Wytch Farm Project. Wytch Farm is the largest onshore oilfield in Europe and is currently producing around 15 000 bopd. When maintenance and enhancement activities are completed, this is expected to increase the production, contributing to our overall growth. This project confirms our international reputation of being a partner of choice.
We have achieved a number of important targets by being innovative, dedicated and skilful in our work. I have full confidence that our achievements' record will grow in 2012 and beyond.
Jean-Michel Jacoulot, CEO