October 2004
On 10 December 2004 Tigress Limited will celebrate its first
anniversary as a wholly-owned, independent UK company. Following
the successful management buyout (MBO) of the Tigress product from
Petroleum Geo Services (PGS) we review the changes of this first
year.
The first year of Tigress’s independence has been busy. New
clients, new partnerships and new business streams have kept the
company working at full capacity, and with oil currently at over
$50 a barrel the activity is set to grow.
As regular Tigress customers may be aware, the MBO
initiative had long been on the cards as the former parent company,
PGS, moved away from non-core businesses and focused on the seismic
acquisition/processing and floating production sector.
A good start
"Tigress has had a very good start as an independent," reports
managing director David Sullivan. "We are on target to double last
year’s turnover, in what is still a very competitive service
sector. We have seen new clients come on board in China, Indonesia,
Russia, Kazakhstan, Turkmenistan, Ukraine, Nigeria, Columbia, Iran,
Brazil and Angola. We have worked closely with existing clients to
push forward major new developments in the areas of production data
management and petrophysical interpretation; something which will
benefit all users."
The work has not stopped there. Tigress has established
partnerships with consultancy groups based in the UK, South
America, the Middle East, West Africa and the Commonwealth of
Independent States (CIS) to promote shared software expertise and
provide local support for field studies by both small and large
operators. The Russian office has been expanded and relocated, and
a new company, OOO Tigress Ingeoservices*, established to handle
the increased Russian workload and provide the full range of
services needed by clients operating in the CIS market.
Sullivan adds: "When people look at Tigress they often focus on
the key areas where Tigress supports them in their daily work, and
can forget the extraordinary breadth and scope of the product.
Remember, Tigress was one of the products used in the Statfjord
equity determination; it was the database and reporting tool used
by Shell to report on monthly production figures for over
3000 wells and 30 years of production in Nigeria; and it is
used in Russia to interpret fields with over 17,000 wells." To put
this in perspective the entire North Sea database currently totals
at just under 13,000 wells.
New deals
In recent months Tigress has been awarded a number of
significant data management service contracts; both in consultancy
roles to assist with the design, administration and implementation
of projects, and more directly with the storage of well and
production data. This year it has strengthened its portfolio by
adding third-party applications linked directly to the Project Data
Store (PDS), allowing secure and direct sharing of data between
existing Tigress applications and external products.
Closer to home Tigress has secured a three-year deal with PGS to
provide support and services to the group worldwide. Elsewhere
academic links have been established with universities in Italy,
Brazil and Kazakhstan, with software worth over one million dollars
donated to these groups.
*‘OOO’ and ‘OOA’ in Russian business terminology are similar to
‘Limited’ or ‘Incorporated’.
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