0.00 Could you tell us about some of the contracts and projects that Proserv is working on in the GCC?
Proserv continues to secure opportunities in what is a highly competitive and demanding marketplace in Abu Dhabi, Oman, Saudi Arabia, Algeria and Africa. We are very proud of our facilities in the GCC, and our proximity to the customers. We recently opened a new facility in Khobar, Saudi Arabia, and we plan to expand further in the region. Our commitment to our partners and customers in the GCC has always been our key differentiator.
1.05 What is your opinion of the oilfield services rental market in the region?
The oilfield services rental market is still buoyant. Due to the reluctance of CAPEX related to the current uncertainty of oil prices, national oil companies and drilling contractors are looking towards the service market for more cost-efficient solutions. Due to the significant downturn in drilling activities, the service industry in now in a transition where equipment and personnel is still required, but there is an abundance of service companies, so NOCs and drilling contractors can control negotiations.
2.55 Proserv is a prominent service provider to four major segments of the oil and gas industry – drilling, production, subsea and marine. Which segment would you say is the most profitable?
Our ability at Proserv to adapt to the market, and our flexibility towards our clients while understanding their needs, allow us to integrate certain aspects from all our offering segments to provide the end-user with a fit-for-purpose solution. Bespoke, custom-fit solutions are our strength.
3.35 What is your take on the stiff competition in the regional oilfield services sector?
Stiff competition exists in all the areas associated with the oil and gas industry, not solely oilfield services. At Proserv, we are based locally and have manufacturing facilities and offices across the GCC, which makes us more attractive – and brings us closer – to the customers. We are committed, more than ever, to expand in the region, hence our new facility in Saudi.
4.10 Are there any local projects or contracts that Proserv is expecting to bag this year?
Proserv continues to develop and enhance its manufacturing, after-market and service capabilities, to provide technically sound and competitive solutions. In doing so, we look to secure opportunities in the GCC and through our global network that will allow us to demonstrate, maintain and continue to develop our global market footprint.
