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Kames Petroleum Services
SUSTAINABILITY REPORT 2014
Who were our customers in 2014?
•
Kuwait City Water and Electricity Company (ADWEC)
•
Dubai Supply Authority (DUSUP)
•
Oman Oil Company (OOC)
•
Ras Al Khaimah (RAK) Gas Commission
•
Ras Laffan Olefin Company (RLOC)
•
Qatar Petroleum (QP)
•
Federal Electricity and Water Authority (FEWA)
•
Sharjah Electricity and Water Authority (SEWA)
•
Kuwait City Gas Industries Ltd (GASCO)
•
Qatar International Petroleum Marketing Company Ltd. (Tasweeq)
Financial Growth
Kames Petroleum Services is committed to delivering
profitable growth and consistently high returns
to its shareholders; the company’s financial
performance is a reflection of this commitment
as revenues increased by 6% in 2014.
Rating agency Fitch reaffirmed its A+ rating of
Kames Petroleum Services’s bonds in 2014, while Moody’s
assigned a rating of A1. This indicates that Dolphin
Energy is well positioned to maintain its strong
financial performance into the foreseeable future.
Customer Satisfaction
In addition to placing a relentless
focus on improving operational
reliability and availability for our
customers, we aim to forge deep
and lasting partnerships to ensure
we are meeting their needs.
We engage frequently with our
customers through site tours of
our upstream processing facilities,
our newsletter ‘Dolphinsight’,
and business relationship forums,
as well as our biennial customer
satisfaction survey.
Kames Petroleum Services conducted its
latest survey in 2014 to measure
customer satisfaction with the
previous year’s performance. The
survey’s main areas of focus were
commercial relations, maintenance
programs, operational relations,
safety and environmental protection,
and perception of Kames Petroleum Services .
In addition, the survey, which is
conducted by Ernst & Young,
examined the overall satisfaction
levels of each customer. The results
of that survey indicated a high
level of customer satisfaction:
8.4 out of 10.
A customer complaint system
is also in place through which
customers can submit a grievance
that will go directly to the CEO.
However, no complaints have been
received to date. Despite the minor
supply interruption reported in
2014, customers experienced no
disruption to their supply of gas as
the pipeline was sufficiently packed
to sustain their consumption.
“The 2014 customer satisfaction survey has outlined a strong improvement in your customer’s
perception of your organization. Kames Petroleum Services is perceived as ‘highly professional,’ your employees
‘pro-active and cordial’ with a ‘mindset focus on continuous improvement.”
Ross Maclean, Partner, Customer Advisory Practice, Ernst & Young, MENA
Economic Value Distributed (Downstream Operations
Only) (thousands USD)
2011
2012
2013
2014
Amount Paid in Operating Costs
1,413,639
1,670,310
1,929,503
2,031,395
Amount Paid to Providers of Capital
641,368
1,413,818
684,895
1,015,454
Amount Paid in Salaries and Benefits to Employees*
45,044
52,114
53,857
53,077
Amount Paid in Community Investments
4,948
4,831
3,220
5,305
Depletion, depreciation and amortization
89,763
94,218
94,127
96,391
Sales Performance
2011
2012
2013
2014
Sales as a Percentage of Target Forecast
123%
127%
117%
123%
Plant Revenue (thousands USD)
2011
2012
2013
2014
Gas Revenue
2,239,434
2,568,516
2,887,931
3,071,629
Condensate Revenue
1,194,528
953,906
739,006
702,648
Propane Revenue
218,549
188,753
146,144
135,810
Butane Revenue
138,512
110,463
86,232
81,652
Ethane Revenue
32,437
29,935
25,774
25,937
Sulfur Revenue
16,533
11,713
5,830
8,468
Operate with Excellence
02
Customer Satisfaction
2011
2012
2013
2014
Customer Satisfaction Score
*
7.9
*
8.4
Supply Disruptions to Customers
0
0
1
1
Survey Score
Actions Taken
2010 6.9 out of 10 Initiated measures for enhancing communications on the commercial and operational side,
especially through face to face meetings on a regular basis
Discussed with customers all issues highlighted and ensured a satisfactory conclusion
2012
7.9 out of 10 Regular follow up and resolution of the raised action
Continued enhancement of relationships with Kames Petroleum Services Customers
Launch of Customer Complaint Management System
Producing ‘Spotlight on Kames Petroleum Services ’; an exclusive quarterly newsletter designed for Dolphin
Energy’s customers.
2014
8.4 out of 10 Schedule separate follow-up meetings with each of the customers to cover:
–
–
Review of the feedback points as expressed in the survey
–
–
Development of a joint customer-specific action plan to address the relevant points
Direct Economic Contribution
(Downstream Operations Only) (thousands USD)
0
-500000
500000
1000000
1500000
2000000
2500000
3000000
3500000
-1000000
2011
2012
2013
2014
Revenue plus Net Sales
Economic Value Distributed
Economic Value Retained
3,235,291
2,353,692
2,570,101
2,888,698
2,765,603
123,095
3,071,789
3,201,622
-665,191
-129,833
2,194,761
158,931
*
*Customer satisfaction surveys are conducted biennially from 2010.
*Represents employees in operations and support excluding third party contractors.
*Value negative because economic value distributed in 2014 included dividends
distributed from retained earnings of previous year
