Can you provide us with a brief overview of Perfection Services Limited’s history and evolution since its founding in 1999?

Perfection Services Limited (PSL) began its operations in 1999, primarily providing construction services to the downstream sector. However, in 2003, the company received a major order from BP for the first and longest basket in Trinidad and Tobago, which marked their foray into the upstream part of the industry. By 2004, PSL had established itself as a major player in the industry, servicing companies like BP, BHP, BG, and Tucker, and accounting for 80% of the market share. In 2005, they started supplying cargo containers (CCUs) to the market, which has since become their busiest sector. With the growing need for offshore accommodation, PSL has expanded its operations and is now partnered with a Norwegian company, Scantech, which specializes in tank cleaning. Furthermore, with the inclusion of four Level 2 inspectors, PSL can now provide all-inclusive contracts with faster turnaround times to their clients.

The oil and gas industry in Trinidad and Tobago has been experiencing a quieter period due to the ongoing maintenance and integrity programs. How has this affected your business?

The oil industry is cyclic, and we have not felt any impact on our business or operations thus far. In fact, many companies are looking to upgrade their offshore accommodations during this maintenance period. For instance, BG has purchased 14 accommodation units from us in the past and is planning to refurbish all their platforms, which is similar to what we do for BP and Repsol. Since these units are over 20 years old and require updating, the maintenance required as the country’s various platforms gear up for further activity is an excellent opportunity for us.

Higher standards and increased safety measures are essential for the industry’s growth, but it often comes at a higher price. Do you think the market is dedicated to maintaining a certain standard even if it comes at a price?

Our units are high-end DNV certified containers, so the price is always a concern for our customers. However, the market in Trinidad and Tobago is more safety-conscious than many other parts of the world, and companies are not willing to compromise the integrity of their operations for anything. Therefore, maintaining higher standards and investing in increased safety measures are considered a necessity for our clients.

Many people have cited the lack of competitiveness in Trinidad and Tobago’s business infrastructure as a hurdle to further development. Do you think the industry has the necessary infrastructure in place to sustain itself and grow?

The oil and gas sector in Trinidad and Tobago should remain stable for at least the next five years. Moreover, the vein coming in from West Africa to French Guyana and Suriname continues into our waters and looks promising for future discoveries. As the northern tip of South America begins to see more exploration, making Trinidad and Tobago a hub for the region will eliminate the extra step of having to go to Miami for equipment servicing. Therefore, the industry has the necessary infrastructure in place to sustain itself. However, rather than the competitiveness, the problem lies in not seizing opportunities when they present themselves. There are ample opportunities around, and we need to ensure we take advantage of them. While some may complain about the government’s inaction towards furthering the industry’s growth, we need to recognize that Trinidad and Tobago has the potential to establish itself as a leader and hub in the Caribbean oil and gas industry. We must take advantage of this opportunity.