Weatherford has operated in Saudi Arabia for a long time, through an unbrella of its three main divisions: The Contract Drilling Rigs division, which has been operational for 15 years; Traditional Product and Services Lines, which operates under a joint venture (JV) with the Al-Rushaid Group since 1979; and finally the Non-Traditional Products and Service Lines, under a Weatherford Branch company and several agency agreements.
“Yes, there are challenges to working in the region – most notably I would say that it is hard finding experienced personnel. We have a heavy emphasis on recruiting Saudi nationals and providing extensive training locally and abroad thus minimising reliance on foreign sourced expertise,” says Thomas Geryk, vice president and general manager, Weatherford Saudi Arabia.
Geryk also points out that logistics can be problematic in Saudi Arabia, but thanks to an “elaborate infrastructure” in the region, and a well developed network of field locations to deliver services in a “timely and cost effective manner”, this is can be avoided through careful planning and monitoring.
Â
“We are totally committed to the Saudi market. We are currently investing some US $60 million in purchasing land in the industrial area and the construction of a 100 000 m2 operations facility, which should be completed by the first quarter of 2010,” explains Charles Kreuz, vice president of operations, Weatherford Saudi Arabia.
“We believe that we will be able to expand our market share and presence in Saudi Arabia exponentially over the coming two-three years,” he adds.
Weatherford’s plans to further expand in the country will focus on areas such as wireline, directional drilling, petrophysics, mud logging, project management, rigless intervention, and stimulation services.
“The future for Saudi Arabia is excellent, with their investment plans for oil and gas developments being the largest in the world. Weatherford hopes to be an integral player relative to that extension,” says Kreuz.
“The fundamental strength and dynamic of the industry is conducive to further expansion and development of service offerings. Weatherford will now put considerable emphasis on recruiting, training and career development and progression of Saudi nationals.”
