African Oilfield Equipment Rental Market

Thursday 21 May 2015, Amsterdam

New technology and innovation in oilfield equipment have made drilling activity more efficient and cost-effective, especially in ultra-deep-water. There have been large ultra-deep-water discoveries by Schlumberger (U.S.), Superior Energy Services (U.S.), and Oil States International (U.S.) in the highly pressurized lower tertiary geological formation.

The E&P companies have started to shift their exploration focus towards the unconventional and deep hydrocarbon reservoirs such as shale gas, coal bed methane (CBM), tight gas, and heavy oil. Therefore, technically sound services and equipment are required. The traditional equipment is not fully equipped to meet the new challenges, this paves the way for new age technology as the tool to execute stiff operations. Thus, renting of advanced oilfield equipment provides better technology at a lower price to oil operators and saves their expenditure for procuring these equipment.

This has increased the demand for drilling rental equipment due to increased drilling activities across Africa. With growing energy demand, there have been new developments in both conventional and unconventional fields. These activities require drilling equipment such as drill pipe, drill collars, hevi-wates, subs and other specific drilling equipment including drill floor, drilling risers, and top drives.

To provide an in-depth understanding of the competitive landscape, the report includes profiles of some of the major oilfield equipment rental market participants, which combines manufacturers as well as service providers, such as Schlumberger Ltd. (U.S.), Weatherford International Ltd. (Ireland) and Oil States International Inc. (U.S.). Currently, the petroleum industry has advanced IT based machinery and software to perform operations in challenging environments of unconventional and deep reservoir regions.