Perenco

Perenco is an independent hydrocarbon producer that has been around for thirty years and is involved in all stages of the project lifecycle, from exploration to decommissioning. With a gross production of over 475,000 BOEPD (barrels of oil equivalent per day), the company's technical expertise and versatility are credited to its 6,800 employees, who provide safe and environmentally conscious solutions to oil and gas fields across the globe. Perenco is dedicated to enhancing and developing local resources to support economic growth and social development in the countries where it operates. The company operates in 15 partner countries and is headquartered in the United Kingdom.

The chairman of Perenco, François Perrodo, asserts that the business takes pride in being different and providing specialized solutions. Its family and independent structure provides the company with agility, but it also enables a significant self-financing capacity to support innovation and investment programs. Additionally, Perenco is committed to making a lasting impact in the countries where it operates and offering its employees personalized and compelling experiences. The company demonstrates its operational excellence and its ability to take on ambitious challenges each year.

Inspiring and Leading: Hubert Perrodo's 30-Year Legacy at Perenco

Perenco, an independent hydrocarbon company, recently celebrated its 30th anniversary, and its late founder, Hubert Perrodo, was recognized as a visionary entrepreneur who was ahead of his time. Perenco was founded based on his entrepreneurial vision after identifying a gap in the mature oil and gas fields market. Hubert began his career as a rental company owner for service barges in 1975 and went on to become a ship owner before founding Techfor, a drilling company, in 1981. He sold Techfor in 1992 to focus on acquiring oil and gas interests, and Perenco was established. Hubert quickly shifted his focus to the operation of mature and marginal oil fields.

Thanks to Hubert's relentless capacity for transformation, Perenco has become a leading international independent hydrocarbon company. The company is still guided by Hubert's core values of responsibility, excellence, and passion, and it remains a growing family business. In 2006, Hubert's son, François, took over the company and pushed Perenco's engineers to innovate while putting operations back at the heart of the business. François also expanded the company's operations in the Caribbean, Central Africa, Latin America, and South East Asia.

Navigating Uncertainty: Perenco's Response to the COVID/Financial Crisis Challenges

Perenco has successfully navigated through various global financial crises, including the historical oil price lows and the Covid-19 pandemic. However, the major challenge for its mature and marginal fields business is how to maintain the production of the remaining oil in the ground over time. Perenco led the way in terms of innovation and perseverance to find solutions and continue to extract value from existing assets. One such example is the Oguendjo field, which was acquired in 1992 and continues to produce 2000 barrels of oil per day (BOPD), compared to its initial production of 6000 BOPD, even after 30 years. Perenco's unique know-how, developed by dedicated individuals with the backing of an international group, has made this possible.

Energy Transition and Local Development: Gas as a transition fuel

Perenco makes a positive contribution and creates shared value wherever they operate. This involves supplying local communities, in a tripartite relationship with the authorities, with some of the tools they need to create development opportunities. These tools include access to energy, empowerment of people, and larger-scale projects such as fish farming or agroforestry, as well as offering support to local entrepreneurs.

The company’s contribution is not limited to local communities, as they also make an impact at an international level. Perenco has developed strategic plans with host states for their energy transition and local development through the transformation of gas to electricity, gas to LPG, gas to industry, and ultimately gas to LNG programs.

Revolutionizing the Industry: Perenco's Ingenuity in The Oil and Gas Industry

Perenco's engineers think differently and solve day-to-day problems with innovative solutions. They continue to find simple, practical solutions to complex technical problems related to the exploration and production of oil and gas. Since 2016, the company has been developing the business by being bolder in the way it works throughout the value chain, from exploration to decommissioning.

Perenco places a high value on constantly improving its knowledge base, making training more accessible and adapted, as well as deepening its innovative techniques in drilling, construction, and production. This has created new jobs of the future to support the company's growth, allowing Perenco to cement its company know-how, share skills and increase awareness of its core values in its teams around the world.

Perenco deploys intelligent engineering solutions wherever it operates, with a clear example being the groundbreaking floating liquefied natural gas (FLNG) unit that Perenco launched to capitalize on Africa's abundant natural gas resources. The Hilli Episeyo FLNG is the world's first FLNG plant to operate from a converted LNG tanker. The plant, moored off the coast of Cameroon, produces 2.4 million metric tonnes per annum of LNG and has 125,000 cubic meters of storage capacity.

In addition, Perenco has recently deployed disruptive technologies, such as the unique patented "Fololo" platforms, which comprise lightweight floating pontoons that can be self-elevated to the required height in a super simple, genuine, and smart concept developed by Perenco. The Fololo is another example of a disruptive solution made by Perenco as an alternative to the technologies available on the market. It is more cost-effective and has a reduced impact from construction to installation in terms of CO2 emissions, allowing small-capacity wells to be optimized safely and more efficiently. It is repeatable, has a small footprint, is light, and versatile.

Advancing Sustainability: Perenco Plans to Reduce Environmental Impact

At Perenco, the belief in sustainability is strong. The company is committed to recycling, modernizing, and redeveloping, particularly in mature and marginal oil and gas production. Perenco's philosophy involves making the most of existing resources, and taking on projects that others have abandoned, to increase productivity and longevity.

The company prioritizes social and environmental impact and acknowledges that more work needs to be done in this area. Perenco has already proven that being bold and a good partner can generate resources that were previously inaccessible. As a result, the company is now focused on developing low-carbon solutions and carbon capture initiatives, supporting host states' policies and using engineering capabilities to create positive change.

In addition, Perenco has invested in decommissioning and established a dedicated company for this purpose. The company is also running rigs and barges in the UK North Sea, making Perenco the first and only company with in-house expertise working effectively in decommissioning with a disruptive approach to ensure compliance with international regulations and timely completion of the job.

Quote: "Being bold is what makes us leaders in the delivery of smart solutions in oil and gas production from mature and marginal fields. What makes us successful over the long term is our capacity to find the appropriate solution for each specific problem, even if we have to invent it." 

Management: Benoît de la Fouchardière, CEO and Group General Manager, Perenco

Website: https://www.perenco.com/