LIONESS WEEKENDER COVER STORY
GeoEnergy Petroleum Services, a business providing data management and digitalization for the exploration data assets of Egypt’s petroleum companies
Mona is the founding owner and ceo of GeoEnergy, a company specializing in providing data management services and digitalization solutions for the exploration data assets of the petroleum companies. Bootstrapping it from a $1,000 investment, it is now a firm that generates $1M+ in revenue, with over 65 clients, 25+ employees, and 40+ project-based consultants. Mona is IFC Nominee Director & Advisory Committee Member. In 2020, she acquired her MBA in Strategic Management - School of Business and Society, from South Wales University in the UK. She is a certified corporate director from IFC, World Bank, and was awarded a certificate in women’s entrepreneurship from Cornell University in the USA. She has a Certificate in Applied Management from Global Enterprise Center, Babson College in the USA, and graduated from the Geology/Chemistry Departments, Faculty of Science in Cairo University, 2002.
Lioness Weekender spoke to the pioneering Mona Al Adawy about her business, its growth trajectory, and her ambitions for the future.
What does your company do?
GeoEnergy was established in 2009 to provide E&P Data Management Services, Digital Transformation Solutions, Petroleum Consultancy Services, integrated Reservoir Studies, Technical Training, and blended learning Solutions and Geoscience Software solutions. Our services support companies to optimize the data assets performance, assess exploration and development opportunities and significantly reduce exploration risks, costs, and cycle time. I founded and built GeoEnergy company, bootstrapping it from a $1,000 investment to a firm that now generates $1M+ in revenue, with over 65 clients, 20 employees, and 40+ project-based personnel and consultants. In 2020, GeoEnergy was awarded the largest Digital Transformation project in the MEA by the Egyptian Oil Ministry to build the first Egypt Upstream Gateway for gathering all exploration and production legacy data, as well as new data assets, in partnership with Schlumberger to support the country growth strategy and attract foreign investments. GeoEnergy was Ranked 1st in E&P Data Management Services for oil and gas companies in Egypt by acquiring almost 90% of market shares in 2020, having started from zero shares in 2009. GeoEnergy supports the community and women, as 32% of our employees are women. Our clients span from Egypt, Gulf to Africa and sub-Saharan. Recently GeoEnergy was awarded a Green Hydrogen Consultancy project in Africa that supports our aggressive growth strategy towards providing more sustainable and renewable energy solutions to our clients around the globe.
What inspired you to start your company?
When I graduated from the Faculty of Science, I wasn't from the first line and I wasn't that person who studies hard all the time during the academic year. But I was great when I understood something and was even able to teach it to my colleagues and prepare documents and revisions about it. The academic work wasn't my target and I was always dreaming about establishing my own business one day. The idea of establishing GeoEnergy started in 2009 when I found that there is no local company in Egypt specializing in providing data management services and digitalization solutions for the exploration data assets of the petroleum companies. These services were only provided by international companies with a very high cost. So, I decided to establish the company to provide the same quality of service that international companies provide but with local content and with competitive prices.
Why should anyone use your service or product?
The integration of our services and solutions is the key, where clients find all the required services to make their data ready for further processing, analysis and interpretation. Our reputation comes from our commitment to work honestly and focusing on the client added-value, in addition to our flexibility in building suitable solutions that meet client requirements and business needs.
Tell us a little about your team
Our people are the most important asset at GeoEnergy, as our services depend on their collaborative work. At GeoEnergy we work as one big family and one team. Our fast and effective communication is the key for our growth and achieving our clients’ business objectives.
Share a little about your entrepreneurial journey. And do you come from an entrepreneurial background?
I decided to establish my own company when I failed to find a work opportunity in the petroleum sector after my first baby delivery in 2007. I had to stay at home at least one year to take care of him, after which I established GeoEnergy in March 2009. My husband was my backer and the main support personally and financially, although we were at the beginning of our career and life building journey. He is also a geologist and he was always beside me and supporting my success. My father was also an entrepreneur and self-made and was working in construction contracting services. My father was my role model and we were in a friendship over the bond of fathering and I learnt a lot from him in life and in business.
What are your future plans and aspirations for your company?
GeoEnergy provides E&P Data Management Services, Digital Transformation Solutions, Petroleum Consultancy Services, integrated Reservoir Studies, Training, and Blended Learning Solutions and Geoscience Software Solutions. Our services support companies to assess exploration and development opportunities and significantly reduce exploration risks, costs, and cycle time. GeoEnergy’s Vision is to be the global quality leader in providing integrated services with an uncompromising ethical standard and in a cost-effective manner.
What gives you the most satisfaction being an entrepreneur?
It has taken 14 years to say it, but the satisfaction comes from succeeding to prove something or to achieve a specific target, making GeoEnergy a remarkable company in the industry in the region. Although it's a big responsibility and commitment, it's the passion behind doing our business, solving the clients’ problems, supporting their success, and building the future with our employees.
What's the biggest piece of advice you can give to other women looking to start-up?
My advice is that nothing is impossible, but you have to expect a lot of hard work, commitment, ups and downs before success. Focus and only focus is the key to achieving your goals. Arranging your priorities is another magic key. We need to take care of ourselves and our families while we are building our future. For every woman out there, just remember that we don't make sacrifices, we make choices.
To find out more about the work of GeoEnergy Petroleum Services or to speak to Mona Al Adawy, send an email to: mona.adawy@geoenergy.co or visit the company website and social media platforms:
Website: http://www.geoenergy-eg.com
Facebook: https://www.facebook.com/GeoEnergyLtd
LinkedIn: Geoenergy-ltd
