2019 – A year of looking forward

Reflecting back on 2018

2018 was an impactful year for PetroStrat and in a market that continues to be changeable we have managed to plot a steady course and continue to provide excellent service to our clients.

We have implemented a significant restructuring of the company organisation increasing the management responsibilities of many staff in how our business is run. Many of our processes and procedures have been overhauled, streamlining our business yet further in preparation to hit the ground running in 2019. Fundamentally, we have reviewed our core values and collectively agreed a new vision that will guide our progress in the coming years.

Despite challenging market conditions and uncertainty we have maintained our drive to succeed. Our people remain our single greatest asset and we strive to be a people company first above all. Through our people, we aim to provide the highest levels of service and quality to deliver consistent results. We have a truly world-class, outstanding workforce in all areas and the Board of Directors is immensely proud of the calibre and commitment of our team members.

As a company we have remained flexible and have flourished during the uncertainties of oil price fluctuations over the last 2-3 years to leave us in good condition for the years ahead.

It is not going to be easy, and nothing is certain, but we are in a position to capitalise on the future whatever that might bring.

2019 is a year of looking forward

PetroStrat remains active and in 2019 and we continue to deploy teams around the globe on wellsite assignments as well as marketing trips and conferences. We delivered on over 120 projects during 2018 in diverse areas such as the North Sea, Morocco, Mauritania, Senegal, Cameroon, Mexico (including the Zama discovery), US GoM, Suriname, Trinidad, Brunei, Malaysia and China. We have also initiated or completed a number of non-proprietary projects in the UK (Namurian), USA GoM, Mexico, Canada and the North Sea, with others being planned or initiated in 2019.

In 2019 we aim to continue the drive for improvement in all areas and we are looking into ways to streamline our project management processes even further, and to review our core product issued to clients. We are hopeful that 2019 will see the continued upturn in the market and increased certainly our future predictions of work are looking healthy. Despite 2018 being another uncertain year we still managed to issue a record number of proposals for PetroStrat which has helped to fill our orderbook for 2019 already.

PetroStrat is looking to gain Investors in People status this year which is something we have been working towards over the last few years. There is a lot to do but we are up to the challenge.