Review the NOC’s onshore drilling requirements to help identify and target suitable land drilling contractors (Middle East and International)
International rig contractor scouting based on the identified criterion
Generate a short-list of viable drilling partners willing to mobilise equipment to the Middle East
Westwood’s Approach & Analysis
Proprietary data tracks the international land drilling fleet (c.8,100 rigs)
Bespoke modelling allowed Westwood to gauge market size, equipment utilisation, spending, and equipment trends by country
A comprehensive landscaping exercise served to identify and evaluate land drilling contractors; reviewing individual rig specifications, existing contracts, utilisation rates, financial stability, international experience,
Industry consultations with 30+ short-listed market participants in regional and international markets to gauge wiliness and/ or ability to mobilise to the Middle East
The Outcome & Benefit
Aided the NOC’s strategy to high-grade the in-country land drilling fleet, with the aim of sourcing rigs between 2,000-3,000HP
Preliminary consultations with industry participants eliminated unsuitable contractors, and provided a foundation for meaningful contract discussions
Significantly improved the NOC’s knowledge of the rig contractor landscape within the Middle East and International markets, a factor which proved critical to determining viable partners
Key recommendations were shared with the NOC, including initial contract terms, rig specifications, Mobilisation to the Middle East is an attractive proposition for some land rig contractors provided there is a provision of attractive contract durations and future options
