STAATSOLIE MAATSCHAPPIJ SURINAME N . V
underestimate the challenges that lie ahead and so it has established a thorough ‘ strategy for success ’ to assist it on this journey .
A thorough strategy for success “ Through our ‘ strategy for success ’, we want to become a partner of choice for international oil companies ( IOC ’ s ) that want to invest in the offshore business ,” explains Elias .
The meticulous strategy outlines how the company aims to refocus its upstream activities . For instance , as a market that has been characterised by oil price volatility , Staatsolie is aiming to become a company that is driven by cost as well as production . To achieve this , the company is aiming to remain a first quartile oil producer , that is , a company producing within the lowest 25 % of the cost curve . But how will Staatsolie achieve such cost-saving measures ?
“ It ’ s been a complete culture change ,” explains Elias . “ We divided the whole organisation into assets where everyone is responsible for their own production and costs . Then ,
“ CHANCES OF SUCCESS ARE GREATER THAN 50 % AND I DON ’ T HAVE ANY DOUBTS – WE ARE MAKING OURSELVES READY FOR SUCH AN OIL FIND ”
Rudolf Elias , Managing Director & CEO
86 March 2018