Statement from the President
SIPET ENGINEERING & Engineering Consultancy Service Limited Company (SPECS) was founded on the premise of providing quality services in Project Management Consultancy and Operation & Maintenance Service to our clients. Since its inception, the company has had a meteoric rise and within no time, the company signed contracts with Dar Petroleum Operating Company (DPOC), Greater Pioneer Operating Company (GPOC) and Sudd Petroleum Operating Company (SPOC) to secure Project Management Consultancy (PMC) Services as well as Operation and Maintenance (O&M). These contracts worth millions of dollars and we were able to hire more than one hundred employees.
We are proud to say that, we’ve taken an incredible journey in pursuit of our dream to provide quality services efficiently and effectively to our esteemed clients by hiring qualified engineers from all walks of lives and pay them well so that we continue to retain them as well as bringing on board fresh graduates whom we train. Our staffs are mainly South Sudanese, Malaysians, Chinese, Indians, Filipinos, Bangladeshis, Pakistanis etc. and we look forward to hiring more engineers from others countries as we expand our market. Not only do these staffs bring expertise to our company, but they also bring diverse cultures and experiences which are very essential in giving us variety of perspectives to see and solve problems in the Oil and Gas Industry. Through the offering of quality services, our company has made magnificent strides.
However, we have had our challenges like any other businesses especially after the 2013 war. The war has had tremendous negative impacts on the economy of the country as whole and more noticeably the oil production. The oil production reduced as many operating companies stopped producing because their areas of production were warzones. For instance, the oil production in the contracted areas to GPOC and SPOC stopped; consequentially our services instantaneously stopped which reduced our business activities greatly. Also between 2014 and 2017, there was generally crisis in the oil industry with regard to sharp decline in the prices of oil in the global market which presented unimaginable pain to the oil industry. This resulted in reduction in our corporate profit and as such we had to lay off some engineers and workers in order to cope up with the changing economic turmoil. That was difficulty period.
Now that the peace has come to South Sudan and global prices of oil have increased, which translates to the return of oil companies back to the business, we are renewing previous contracts which were terminated due to lack of operations and we are also winning more contracts in Project Management Consultancy and Operation & Maintenance. Our next stop in our business pursuit is to take our services beyond South Sudan borders and I am proud to say that we are now in the process of registering our company in Uganda and Kenya. It will be in deed an accomplishment if we succeed in those markets and hopefully we will. Like the way we have dominated South Sudan Oil and Gas Industry, we intend to do so in the regional market as well as in the global market.