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Strategic Business Approaches


    1. Increase in Production

 

      • Extension of the concession.
      • New investment financing framework agreement.
      • Additional revenue through gas sales.
      • Study of Water Injection Optimisation and Recovery Factor Improvement.
      • Heavy duty work-over programs.
      • Process improvement and optimisation.
      • Maintenance and compliance with standards applicable to surface installations.
      • Improvement in understanding the Geology and Structure of the Concession.
      • Oil and Gas Drilling Programme.
      • Bright Water Project.
      • Exploration for Hydrocarbons explored outside the Concession.

 

    1. Business Process Improvement and Cost Reduction

 

      • SITEP Outsourcing of activities that are not central to SITEP's business activities.
      • Feasibility study for the construction of a new power station.
      • Development of a digitised information system.
      • Reduction of transport costs.
      • Setting up of an integrated Technical Data Bank.

 

    1. Implementation of a new HR Management Strategy

 

      • Enhancing the Company's Human Resources.
      • Knowledge transfer from former personnel to younger ones ( inservice training, mentoring, tutoring).
      • Skills Development with the aim to create the optimal conditions to achieve the Company's strategy through:
        • Performance Improvement.
        • The ongoing development of servicing activities.
        • Mastery of the available technologies and those to be acquired.
        • Future plans ( changes occurring in the sector, technologies and professions).
      • Establishment of an integrated HR management system based on expertise as the pillar on which recruitment, training, performance assessment, remuneration and career development policies are articulated.

 

    1.  Commitment to actions in the framework of corporate social responsibility

 

      • Implementation of an integrated Quality, Health, Safety and Environment QHSE Management System.
      • Improvement of working and accommodation conditions: construction of an administrative complex and an accommodation camp.
      • Strengthening the partnership policy in order to carry out activities to stimulate the development and the population growth throughout the region.