Message from the CEO
Welcome to the WGP Group Website, if you’ve visited us before, then I hope you’ll appreciate the changes; if it’s your first visit then I trust you’ll be able to find the information you’re looking for.
As with our own corporate strategic development, with the revised website we’ve had to re-focus on our core activities, ensuring that our existing clients are serviced, balanced with ensuring we spread the word as widely as possible to develop new opportunities.
We’ve looked long and hard at what we do, and where we need to go, in particular what we do best, and what will achieve the best return for effort and investment. From the website, you’ll be able to find the key seismic services we’re able to offer – with the aim of becoming a complete oilfield services company.
Although it’s a well used cliché, that the company is nothing without its people, this statement is never truer when looking at WGP. Our strength is in the skills, experience and capability of our Staff, many of whom have been with us for most of their geophysical careers. I think this says a great deal about us as a company. We aim to be here for the long haul and to achieve both personal and client satisfaction.
I’m excited about the future. We’ve managed to position ourselves to be able to grow in a strategic and considered way; with the nimbleness of a small company coupled with the experience, capability and client base comparable to our peers and competitors; We’re structured, robust and ready for the next stage of development of the company that will come with the up turn in market conditions.
The key activities we intend to continue to explore and develop are four fold:
- Life of Field Seismic (LofS) – 4D
- Regional, and frontier 2D marine seismic data acquisition
- Ocean Bottom Seismic (OBC/OBN)
- Geophysical Project Management
Life of Field Seismic (LofS) – 4D
There is little doubt that with the prospect of dwindling resources, and new fields becoming increasingly hard to find, all endeavours will be placed on maximising production for known resources; use of 4D (Time Lapse 3D) Life of Field Seismic surveys will provide reservoir engineers with the information necessary to optimise extraction plans. WGP has already amassed a huge wealth of experience in this area, notably with involvement in BP’s LoFS projects at Valhall in the North Sea and CARSP over the Azeri-Chirag-Gunashli fields in the Caspian Sea. We intend to actively build on this experience and increase the activity as the market and opportunities develop.
Regional and frontier 2D marine seismic data acquisition
WGP, as a niche market player, focuses on acquiring data in challenging areas. This has been proven by performing surveys in areas as diverse as Somaliland and Greenland (Baffin Bay) in 2008; both acquired without incident as a result of meticulous planning and implementation, together with professional and experienced offshore personnel. It is expected that the market for acquiring geophysical data in frontier and challenging areas is likely to increase as exploration strives to locate new hydrocarbon reserves.
Ocean Bottom Seismic (OBC/OBN)
Driven by the need to extend exploration effort into challenging frontier areas, which cannot be serviced by towed streamer acquisition, it is envisaged that data acquisition using Ocean Bottom Seismic techniques will be an increasing area of activity utilising both Ocean Bottom Cables (OBC) and Ocean Bottom Nodes (OBN). Building on WGP’s contemporary experience of performing Ocean Bottom Seismic techniques in pursuit of LoFS projects, the same experience, technique and skill set is transferrable to exploration activity. Further, recent advances in technology have resulted in increased benefits in using Ocean Bottom Seismic compared to traditional towed streamer techniques including improved reliability and operating efficiencies. With this in mind, WGP has developed strategic relationships with a number of key industrial partners to be ideally positioned to continue to develop opportunities that require OBS.
Geophysical Project Management
Recent trends have seen National Oil Companies (NOC’s) take an increasing interest in owning and operating their own survey vessels, driven by the necessity to secure the availability of data acquisition vessels from a national strategic perspective plus the benefit of long term cost savings (against the relatively high cost of short term contract rates).
WGP is uniquely positioned, with no deemed clash of interest, to provide geophysical project management and consultancy services to NOC clients (amongst others) to supplement skills and resources on such projects. With core skills and experience ideally suited to this activity (specifically towards 2D, shallow draft 3D, source and cable laying vessels), WGP intends to develop further opportunities which will include survey vessel design, installation, commissioning and operations to new builds, upgrades and conversions.
In closing, WGP aims to build on its experience and capability with a clear vision of strategic development. The downward slope of oil exploration and production is going to be challenging, but until the world becomes less reliant upon hydrocarbons, it is going to be a certain path. We remain determined to provide our services with a focus on getting the job done, to meet and exceed Client expectations with the commitment to strive for no harm to people or the environment.
Mark Burnett
CEO
WGP Group
1st June 2009