Company
overview

With 450 000 boepd, Perenco is Europe's leading independent oil and gas company.
Perenco has a well balanced portfolio of production, development and exploration
assets around the world, built through a strategy of acquisition and strong organic growth.

 

Exploration, development and production

Perenco is an independent oil & gas
company with operations in 13
countries across the globe, ranging
from Northern Europe to Africa and
from South America to Southeast Asia.
Perenco is involved in operations both onshore and offshore.

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Exploration, developement and production

Perenco currently produces approximately 450 000 boepd, of which 250 000 boepd is net to the company. While Perenco's growth has been driven by acquisitions, the Group's strategy evolved rapidly towards increasing production and reserves, renewing licenses and securing additional acreage for new exploration and development opportunities.

Perenco now has a balanced portfolio with a solid production base, development projects and high quality exploration prospects. A core component of Perenco's policy has also been to be operator of its assets. As a responsible operator, we are proud to be a partner of choice and to maintain the highest safety and environmental standards.

 

another strong performance
by Perenco

Our culture is to challenge norms and to adapt with
creative solutions for the successful delivery of every barrel

Jean-Michel Jacoulot, CEO

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A note from our CEO

2014 saw another strong performance by Perenco. We exited the year with gross production of 450 000 boepd, of which 210 000 is net to Perenco. 

Perenco's growth continues and our recent acquisitions have played a significant role in our record production levels: first oil from Su Tu Nau and Su Tu Vang South West, in Vietnam, was achieved both on time and within budget.

Wherever we operate we ask our people at every level to take ownership. Our culture is to challenge norms and to adapt with creative solutions for the successful delivery of every barrel, whilst we continue to focus on HSE performance. Safe operating practices throughout the organisation are essential and I must stress that there is no room for complacency. Achieving a totally safe working environment remains the responsibility of everyone at every level within the organisation.

The operating environment is increasingly challenging. While oil prices are fluctuating, the cost of extracting each barrel of oil is rising, chiefly due to the increasing complexity of fields. 

However, for Perenco, as an agile operator, today's environment presents opportunities. We are extremely well placed to continue to prosper but we must adapt to a new era. We have the ability to focus on our core areas and my belief is that with a flexible approach, underpinned by strong capital discipline, once again Perenco can look to the future with a high degree of confidence.

 

Jean-Michel Jacoulot, CEO

Total Operated
Production

450 000
boepd

  • Gross production ( BOEPD )
  • Net production

Group history

Since 1975, shrewd business decisions
and a policy of active development
have enabled Perenco to pursue a
strategy of steady expansion

  • 1975

    Founded by Hubert Perrodo (1944–2006), the Perenco Group began operations in the oil and gas industry in 1975, as a marine services company based in Singapore. Within a few years the Group was providing supply boats, work barges, and tugboats to exploration and production companies in South East Asia and the Persian Gulf. Activities soon diversified into tanker storage and service barges.

  • 1980

    In 1980 the Group founded Techfor drilling company and built a fleet of drilling rigs, jack-ups, swamp barges and land rigs. After divesting its drilling interests in 1992, Perenco started building a worldwide portfolio of assets. Production acquisition of assets in Gabon, Cameroon, DRC, Colombia, Southern North Sea, Turkey, Tunisia, Venezuela, Guatemala… Development of assets in Egypt, Peru…

  • 2011

    Completion of Cameroon Rio del Rey acquisition.
    Acquisition of Wytch Farm assets in Dorset, UK.
    Social Project in Peru wins Sustainable Development Prize 2011. The Agricultural and Fallow Management Project developed by Perenco Peru and the Native Communities San Rafael and Nuevo Libertad, won the 2011 Sustainable Development Prize, awarded by the National Society of Mining, Petroleum and Energy, to the environmental protection projects most outstanding and innovative of the year.

  • 2012

    Acquisition of shares in three permits in Vietnam.
    Acquisition of SGA assets in the UK. Entry of PEVP in Peru’s Block 67.

  • 2013

    Delivering of the first commercial gas from Sanaga field in Cameroon.
    First oil produced on Block 67 in Peru.

A tribute to
Hubert Perrodo

Perrodo learned very early on that to
live you have to work, and to succeed
you have to demonstrate courage and
talent and take risks.

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A Tribute to Hubert Perrodo

Hubert Perrodo, the founder of Perenco, was born on 25 January, 1944, in Larmor Baden, a fishing village on the Gulf of Morbihan located on the southern tip of Brittany, in France.

 

 

He was the eldest of four children. His father was a fisherman and his mother a housewife. His ancestors on both sides were fishermen who, in order to earn a living, sailed those seas that had the reputation of being difficult. Perrodo learned very early on that to live you have to work, and to succeed you have to demonstrate courage and talent and take risks.

 

A bright student, he was not, however, made for academic study. As soon as he could, he chose the school of travel over university. At the age of 19, he joined the maritime company Delmas-Vieljeux as a cadet officer. For eighteen months, he cruised along the west coast of Africa. Called up for military service, he joined the navy and left for the Mediterranean before once more embarking for Gabon.

 

In 1967, following a stay in Quebec, his quest for adventure led him to explore the east coast of the United States, from Florida to New York, working one day as barman, another day as an actor or as a teacher of French or sailing. His American travels ended with a cruise on the yacht owned by the majority shareholder of Gulf Oil, Jack Walton, who socialised with his young French maître d'hôtel and showed him the advantages of the oil business. This meeting was to be decisive.

 

In 1969, back in France, Perrodo, strongly determined to succeed, followed the advice of the oil magnate. He went to Pau and applied for work at drilling company Forex, where he learned the trade on the job. The assignments he was sent on in Iraq, Gabon, and Indonesia allowed him to gain precious contacts and experience. In 1973, he joined Comex, an underwater operations specialist in the oil and natural gas industry, and was sent to Singapore as a logistics manager. There he saw an opportunity and in 1975 he acquired several small support boats that enabled him to set up his first company, Cosnav Ltd. With his new firm rapidly developing, he soon became a ship owner, supervising the construction of barges and tugs that he hired out to major oil companies.

 

Apart from a rich family life (he is the father of three) Perrodo's greatest passion was undoubtedly his job. He devoted over 30 years of his life to creating and managing companies, gathering around him a loyal, closely knit, responsive team, motivated by the desire to successfully meet new challenges. In 1981 he founded Techfor, an oil drilling company that he sold in 1992, before creating and developing Perenco.

 

Throughout his life, Perrodo's sense of risk and his need for physical exertion never diminished. The most striking evidence of this was his enthusiasm for polo. He fulfilled this passion by establishing his own team, which went on to win the most prestigious 'high goal' polo trophies. He also indulged his love for off-trail skiing and his participation in the Médoc, New York and London marathons.

 

On 29 December, 2006, one month before his 63rd birthday, Perrodo passed away while hiking as he was descending 'La Dent du Villard' mountain trail near Courchevel. For all those dear to him, this passionate man leaves behind a legacy of independence and achievement.