Q1 2010 Message from Dr. Nansen G. Saleri, CEO & President QRI

“The future of oil and many companies may depend on how
much they can raise the bar.”

“As the global markets are slowly pulling out of the economic compression of the past two years, 2010 and beyond pose intriguing challenges to the energy industry.  What will be the energy choices of the future?  How will oil and gas morph into the realities of the coming Energy Age which is predictably and increasingly more complex, competitive, and carbon adverse?  What is the next consequential technology?  What commodity price?  Who will lose? And more importantly, who will win?

QRI’s vision, since its inception in 2007, is to raise the Industry’s standards of performance by leading the way in reservoir management.  Reserves appreciation, production sustainability, capital efficiency, and environmental harmony (i.e., the green factor) are our Industry’s “weak links” to the future, at least in my view.  Turning “weak links” to corporate strengths drives our strategy.  This will happen in companies, NOCs, IOCs or independents, where the desire to do better is embraced—from top to bottom— and where the “Not Invented Here” syndrome is openly rejected.

Many transformative efforts towards higher performance targets fail for simple reasons which have little to do with technology, capital resources, or talent.  Root causes of underperformance in many oil fields often point to design flaws and lack of understanding of reservoir fundamentals.  The latter is compounded further by an absence of reservoir management metrics and false expectations created by poor engineering design.  This is where we at QRI can make a substantial difference.

Our approach is grounded on science and modern reservoir management metrics or what we call “Actionable Analytics.”  We analyze. We probe the drivers for financial performance and get to the bottom of critical non-financial factors, i.e., reservoirs.  This is how we can determine—quickly—if and when a reservoir is underperforming and if and by how much 1P/2P reserves are underestimated, and what remedies can be implemented to engineer a turnaround. 

I wish to conclude by saying every reservoir deserves the right to perform to the highest standards of performance which are economically, environmentally, and technically viable.  The future of oil and many companies may depend on how much they can raise the bar."