Chairman's Statement
2008 marks another important milestone
in our Group’s attainment of our vision - to be the leading
integrator and market consultant in the energy sector. After hiring
experienced leaders for each of our five divisions (of Automation,
Chemicals, Drilling Services, Rotating Equipment and Technical
Resources) over the last 2 years, we are now visibly benefiting from
the synergies between these groups and our Consulting activities.
For example, our Technical Resources team, in collaboration with our
Consulting activities, now offers complete manpower contracting
solutions in Kazakhstan and Libya which include the design and build
of camps, camp operations and maintenance, as well as manpower
contracting as one package. The synergies between our Automation and
Rotating Equipment divisions have resulted in several joint bids in
Iraq. Our Drilling Services capabilities now allow us to offer
services and form partnerships in South East Asia as well as South
America. With this impressive growth, it is our challenge to
maintain our team-based culture and risk management techniques to
continue to steer us safely through our industry’s cycle.
As
before, I stress that we will continue not to seek maximum short-term
profits, but, in our opinion, rather more worthwhile goals of
providing added value products and services, at competitive prices,
while developing business, enhancing standards and creating jobs
where these are still desperately needed.
By learning more
from our setbacks than our victories, our Group is now not only
strong technically and financially, but enjoys an excellent
reputation with our clients and partners. All of us are proud, as
indeed we should be, to pioneer ventures in difficult areas, regions
and markets, especially through volatile times. Our strategy to focus
on our core business of Integration continues to pay dividends. It is
in demand and we have the strong support of our clients, National and
International Oil Companies, as well as the relevant Government
agencies.
As for the future, the pressure for expansion is
strong, but care needs to be taken to maintain our excellent
standards of operations and service. After all, we are always seen to
be only as good as the last job we have completed. We are well on
track to reach our five year goals (including building our turnover
to over $250 million), and I would like to take this opportunity to
add a number of new targets, including:
-
expanding our
involvement in carbon credit projects;
-
growing our Far Eastern based
businesses and M&A activities to meet the local content needs of
these important markets;
-
expanding our financial
services capabilities to provide more points of service for our
clients, including trade finance, project finance and vendor
financing.
The Unaoil Group will continue to
develop and expand its role in the Energy Sector. Now, more than
ever, we are proud to be instrumental not only in the cost-effective
economic and technological development that we offer our clients, but
also in the added social and intellectual value. I would like to
thank our customers, partners and our team of dedicated executives
and employees for their commitment, loyalty and support. The future
looks extremely promising.
Ata Ahsani
Chairman
The Unaoil
Group of Companies
