SKD Sees Opportunities for Tender Assist Drillers in Low Oil Price Market
A lower oil price environment opens up a window of opportunity for SapuraKencana Drilling Pte Ltd. (SKD), as a leading tender assist drilling operator now part of a diversified integrated oilfield services provider, to offer integrated solutions to field operators keen to reduce interface risks in exploiting oil and gas reserves.
SKD was created after the listed Malaysian oilfield services group, SapuraKencana Petroleum Berhad, acquired all but three of Seadrill Ltd.’s tender assist drilling units. The tender assist drilling specialist currently owns and operates a 17-strong fleet, the largest in the world.
Its chief executive, Raphael Siri, flagged two advantages of a tender assist drilling outfit as being part of a diversified oilfield services group spanning the entire field development value chain from drilling to engineering, procurement and construction to offshore installation.
Particularly relevant to the current oil price environment is the ability of SKD, as among the business units of SapuraKencana to meet an increasing volume of requests from smaller independents for integrated solutions to reduce contractor interfaces in order to provide for improved project execution control across distinct phases of the field development process.
SapuraKencana is organized to empower its executives to cross-sell services across the divisions – Siri himself wears a second hat as the senior vice president of the Malaysian group. This translates to enlarged client lists for SKD and its other sister business units.
SKD is for instance, in the process of introducing a sister company to Africa, where the drilling division has already built track records with oil companies operating there. Likewise, Siri said the drilling business unit is looking to tap the engineering and construction division’s recent success in securing work for SapuraKencana 3500 heavy lift pipelay vessel in Mexico, to break in with the Latin American country.
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