We are an industry where our goal is to have customer service that is not just the best, but Legendary
2016 saw another strong performance by Sterngroup Inc. We exited the year with gross production of 250,000 boepd, of which 110,000 is net to Sterngroup Inc Group. Our 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. Yet another project to be executed in the Second quater of 2017 is a land oil exploration in Fujairah,U.A.E. 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 Sterngroup Inc, 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 Sterngroup Inc can look to the future with a high degree of confidence.