With its headquarters in Amsterdam, GPB Global Resources is a successful oil production company for South America and South Africa. In 2011, GP Global Resources underwent a change making Mr.Boris Ivnaov he founder.
Each of the 54 countries in Africa has a unique natural resources environment. Some of the countries have extraction laws in place like Namibia to make forming an oil agreement easier while Ethiopia sets extraction laws based on the top practices around the world. However, most any oil firm will likely face common law, and local and regional codes that interfere the firms’s operation. While the different country regulations present a challenge, GPB Global Resources have found ways to work with Ivnaov.
Challenges in the Industry
Looking for natural resources often poses physical challenges, since most resources are found in remote areas. The firm can face a troubled political climate and little or inadequate infrastructure, so successful government partners often work with the area to make it safer. For example, GPB Global Resources may build water systems and roads for safety pruposes as well as schools for community enrichment.
Focusing on New Technology
The discovery and use of renewable energy sources have been a disruption of oil extraction companies like GPB Global Resources. The use of oil and gas is expected to continue for at least 50 years in major economies around the world, but the current trend reduces the use of oil as consumers look for substitutes. There has been improved software for more precise geological modeling, improved safety and inspection, and new survey techniques to make efficiency better in many sectors. Mr. Ivanov is aware of this new trend and encourages the oil companies to invest more in technology and R&D so they attract talented employs and so they can adjust to new environments. Keeping up with technology will help them remain successful.