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The results of the year 2007, characterized by increased performances in all the fields, are very satisfactory and in conformity with our road map.
After a first phase which knew the implementation of new organisational measures, 2007 is marked by the beginning of the concretization of the Company's
strategic projects, namely the reinforcement of the production capacity and the modernization of management, and the constitution of partnerships in the key business
(drilling and work over), as well as services' export.
- The year 2007 was characterized by:
1. QHSE-SM: Quality, health, safety and environment
remain our Company first priorities. The conformity of the Company QHSE-MS to the requirements of the certification reference frame has just been validated by the audit of
follow-up for the 2nd year.
The audit proceeded in June 2007. The real provided efforts in the concretization of QHSE system on the field start to give their results.
Let us note, within this framework, the significant
fall of the accidents number, which results in a remarkable fact: more than 12 sites remained more than
six months without the least accident.
2. Rehabilitation of the production tool: The strategy of the Company is
centred on the modernization and the reinforcement
of its fleet, by the acquisition of new rigs and the restoration or the replacement of the decayed ones.
3. Human resources: The policy of the Company consists in dealing with the departure
of the personnel within the framework of the legal and early retirement, or the substitution of that coveted by other companies, especially in the Company key trades (technical posts) The efforts on the matter are centred on:
The raising of the qualification levels and the renovation of the personnel through the recruitment of academics and the formation of the new recruits in the production fields, namely drilling and work over.
A consequent upgrading of the wages by the introduction of inciting measures.
Remuneration is, since March 2006, related to performance of work (variable part and fixed part); An increase in the fixed of the social charges for drilling key personnel; The improvement of the workers' living conditions remains the concern of the Company Management.
Accordingly one can quote: optimization of infrastructures use, installation of new camps, restoration of the "12/11/1960" Northern Base of life kitchen and restaurant, and especially the replacement of the old drilling camps by new ones.
4. Modernization of the management: The year 2007 knew the achievement of the GMAO implementation process on all the rig sites and on the transport division. Reports are received daily and distributed to all the rig sites to encourage the reticent ones to use the system.
From now on, it is necessary to proceed to the part order according to GMAO monitors. As for "ERP" integrated system, the choice of the integrator will be done very soon, and the year 2008 will be that of its implementation.
5 Partnership: In order to meet the Sonatrach needs as regards integrated services (UBD, directional drilling, supervision, etc.), it has been decided
to create a Joint Venture between ENTP
and Weatherford for the provision of ten (10)
work over and rigs (five rigs for each part), and to ensure the management of these rigs. This partnership will make enable ENTP to make
training for the control of the new activities.
The JV could also be called to activate abroad, and this will facilitate to ENTP export its services.
6 services' export :
The will of the Company expand on other drilling markets apart from the national territory, forms part of
the strategic objectives. This opening will
allow, not only to increase the potential market aimed by the Company, but also to deal with the possible difficulties being able to occur on the national market.
Contracts have been concluded in 2007, and the year 2008 will be that of their implementation:
-Oman Project: The project consists of hiring two (2) 1500 HP rigs to "ENAFOR LLC of Oman", with acquisition of a holding by ENTP in the Registered Capital of the latter. The new entity will become a subsidiary company between the three parts: ENAFOR Spa, ENTP Spa and ENNAHDHA Omania. Through its presence in Sultanate of Oman, the target of ENTP will be to reach all the drilling market of the Arabian Gulf countries.
- Libya Project: On 12/26/2007, ENTP was awarded the tender for drilling two (2) firm wells and three (3) optional ones for the account of "SIPEX Libyan Branch" (subsidiary of Sonatrach in Libya). To this end, contract N 001/2008/065 relating to the provision of a 1500 HP rig with Mud logging service, has been signed between ENTP and SIPEX L.B.
It is to be known that the
company aims through this project, to make its presence past Libyan territory.
- The efforts made by the Company during 2007 had as consequences:
1- As regards safety, it was noted that the number of accidents decrease, passing from 202 accidents in 2006 to 168 in 2007. So, the frequency rate knew an appreciable decrease passing from 7.41 in 2006 to 6.03. The severity rate also decrease passing of 0.48 in 2006 to 0.32.
2- In the field of physical achievements, the principal production indicators for 2007 are satisfactory:
- The rigs' placed time was 481.41 MR, for a forecast of 493.18 MR, and recorded a surplus of 48.5 MR compared to 2006;
- In term of immobilization, a significant decrease was noted this year, that is to say 7.00 MR of immobilized time in 2007 against 10.58 MR in 2006;
- The T1 billing rate shows a satisfactory rate, that is to say 95.83% for an objective of 95.97%;
- The DTM performance index is almost equal to the assigned objective (1.00). It was 0.94 in 2006.
- In the field of the financial achievements, the 2007 results are excellent:
- Sales turnover: 24.869 MDZD, against 20.559 MDZD in 2006.
- Added Value: 17.517 MDZD, against 14.981 MDZD in 2006 .
- Raw result: 4.377 MDZD, against 3.343 MDZD in 2006.
The principal physical and financial achievements of year 2007 are very encouraging. They attest accuracy of the development strategy adopted by the Company.
It is added to that, as regards 2008, a promising workload with our principal customer Sonatrach, the setting in activity of eight (8) new rigs which will the increase the fleet to fifty four (54), and the beginning of our service's export through the hiring of two rigs for PDO Oman as from May 1, 2008.
The performances will have to improve in the future,by means and in particular to the development and rehabilitation policy of the production tool,
as that relating to the modernization of the management tools, currently carried out the Company Management.
Finally,
I would like to thank all the Company personnel who did his best in order to raise its performances.
I am convinced that ENTP can take up new challenges thanks to its workers and that other excellent results will be obtained.
I also would like to thank the Board of Directors' Members and SPP Holding for their collaboration and their support for the company.
I'd like to express all my recognition and my gratitude to our partners, customers and suppliers for confidence and the consideration they testify to us.
I also would like to thank Mr. Minister for Energy and Mines as well as Mr. Chairman and all Sonatrach managers for their support in accompanying ENTP development and modernization.
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