In the field of Oil and Gas or petroleum economies, two factors drive profits.
The first, market price of oil and gas, is governed by many elements, such as
political stability, economic growth and the weather, all of which are outside
the control of operators. However, the second factor, production cost, can be
controlled to some degree by the industry. Hence the challenging focus in this
area by the E&P companies and Service Companies.

During the past decade, market price has stabilized-albeit at a moderate
level-but exploration and production (E&P) costs continue to rise, squeezing
margins and diminishing returns on investment(ROI). Wells cost more to drill
and bring on stream because much of the easy oil is gone( Nigeria, North Sea,
US land...........), leaving behind oil that defies production by conventional
techniques and oil in deeper, more complex reservoirs in frontier areas.
Complicated with the ever increasing demand for crude oil supply worldwide
Nigeria as an example has ambitious capacity expansion and in April cited
targets of 3.0mb/d by the end of 2005 and 4.5mb/d by 2010. The country is
pushing for a higher share of OPEC target production. However, there is
ambiguity both over the extent of decline rates from existing field and as to
whether the stated capacity targets are solely for crude or include gas liquids.
This necessitate the recent government drive to re-evaluate majority of the
marginal field with the hope of squeezing any left overs. Also E&P companies
are complimenting this initiative with innovative technology and integrated
solutions to better optimized these fields.

Striving to remain profitable, oil companies are taking action in three areas to
control cost First, restructuring their organizations through mergers and
downsizing to increased efficiency and reduce cost. Secondly, they are
redefining their business, identifying core competencies and outsourcing non
core activities. Thirdly, they are changing the way they do business, gradually
converting the arm's-length relationship with contractors into more cooperative collaborations to eliminate redundancy and boost efficiency, exploiting new technologies to enhance productivity. Reducing cost and improving business efficiency without compromising the quality of work will be achieved through project management and teamwork linking innovative technology, information technology and new ways of doing
business.

We at WellSteer are key to this initiative and partner to E&P and Services
Companies, with our verse expertise we are providing our experience to the
E&P companies through our services in the form of Oilfield Consultancy
through Data Interpretation Services, Project Management and Engineering
services to enable collectively these goals to be achieved. We are indigenous
company, our scope are mainly to target Nigeria Oil and Gas sector with focus
on the E&P companies, Services Companies and also the small indigenous
E&P companies.

Our vision is to be a key innovative technical and solutions enhancement
provider for E&P Companies and Service Companies to develop and produce
Oil and Gas safely and environmentally friendly manner of Nigeria economy
through innovative technology, IT infrastructures, motivated workforce and
commitment to quality and safe environment.

With over 15 years experience in the industry with expertise in both clastic and
carbonate reservoirs, international experiences in North and South America,
Africa, Middle East and North Sea, we are poise to provide verse expertise and
quality services to our customers allowing them to make better-informed
operational decisions.more