Mission and Strategy

Mission and strategy
 

IGSS mission statement

IGSS provides the world of oil and gas exploration with quality seismic data acquisition, processing and interpretation solutions. This is delivered via cutting-edge technology and integrated services and supported by flexible project management and ongoing R&D activities.

We think globally and act locally - making the most of our exploration experience in Russia and beyond. We also believe in the pioneering spirit of our business and aim to be the first in everything we do.

Our number one concern remains the health, safety and wellbeing of our employees. We are also mindful of our impact on the environment and the communities in which we operate. When it comes to these priorities, we strive to lead by example.

Harnessing synergy benefits

We will continue to maximise the opportunities and synergy potential provided to us by combining the two clear leaders in the Russian seismic market.

These include further improving our cost structure, higher asset utilisation and a strengthened service offering.

The combination has also enabled us to reduce costs by eliminating overlapping operating bases, combining data processing operations and optimising the number of personnel in our headquarters. By leveraging our newly increased scale we can also reduce the movement of equipment and crews between regions in Russia.

Our new relationship with Schlumberger offers exciting opportunities, notably the chance to offer world-leading Schlumberger technologies to an expanded client base.

Strategy

At IGSS, maximising shareholder value is our primary strategic objective. To achieve this we must build on our position as the leader of the Russian and CIS seismic markets. The following sections outline how we intend to do this.

Operational excellence and efficiency

We are implementing standardised operational and organisational processes across all of our departments. These will ensure we operate in a consistent and efficient manner – with a particular focus on cost controls and productivity.

Aided by our partnership with Schlumberger – and our continued monitoring of the competitive landscape – we also intend to adopt international and local best practices throughout our Group.

Finally, we continue to focus on achieving maximum utilisation of our equipment through careful logistical planning.

Focusing on high-technology services

We believe the demand for high-technology services – such as high-density acquisition and advanced data processing – will continue to increase.

IGSS are well-equipped to meet this demand. We have already implemented new cutting-edge technologies including wireless data acquisition and advanced data processing.

Furthermore, our access to Schlumberger’s proprietary UniQ and Omega 2 packages allow us to perform both 3D3C and high-density seismic data acquisition. This bolsters our data processing activity by adding capabilities for anisotropic depth migration, RTM, beam migrations, CIP-Tomography, COMFI, GSMP, XMP and marine 4D processing.

Finally, we are developing and manufacturing our own pulse non-explosive sources and prototype transverse wave sources. This includes using them in combination with SmartSource technology.

Developing longer-term partnerships

Currently, the majority of the contracts we sign with our clients are one year long – as is customary in the Russian oil and gas field services sector. However, we are striving to establish longer term contractual relations with clients.

Longer contracts are beneficial for both IGSS and our clients. By decreasing the movement of equipment and crews they improve utilisation and reduce costs and operational risks. They also allow us to better plan our operations and investments and provide our clients with more tailored services.

Utilising our competitive advantage

We want to increase our market share in territories where we are already present as well as areas where we have a competitive advantage.

For example, we intend to increase our market share in East Siberia by leveraging our leading regional infrastructure, our vast knowledge of the local geology and our strong relationships with the region’s key clients.

We also plan on increasing our activity in the transition zone acquisition services market by utilising our ability to offer combined land and transition zones surveys. This will include entering markets in Caspian and Central Asian countries for the first time.

Our strategic relationship with Schlumberger means we are well positioned to carry out projects in synergetic markets outside Russia and the CIS. Latin America and the Middle East are just two examples. Leveraging Schlumberger’s global presence makes this possible.