Weatherford prepared to partner DSF bidders

Vol 20, PW 3 (20 Oct 16) Exploration & Production
     

Difficult times call for innovative measures.

In a bid to generate business, service provider Weatherford is offering to provide drilling and well completion services at only a small upfront cost to companies who bid in the Discovered Small Fields (DSF) round, with its new November 21 deadline for bids. In return Weatherford wants a share of revenue once a field starts producing oil or gas.

"On offer (from Weatherford) is a one-stop shop for drilling and well completion," says a source. "Not only drilling, all other services like drilling rigs, logging, perforation and testing required for field development will also be provided by Weatherford." Of course Weatherford is likely to carry out a thorough techno-commercial evaluation of the field before committing itself to any work programme decided by an operator.

When satisifed it will tailor the services it offers to the needs of the operator. IndianOil sources tell us Weatherford's proposal reflects a growing trend among service providers.

"Other players have come to us with similar models," he says. "The idea is good and the best part is that the CAPEX for drilling and well completion is taken care of.

We have to worry only about the OPEX once the fields begin production." Under the DSF bidding round, IOC is planning to bid for Dipling, Sarojini and Sapekhati fields in Assam, earlier held by Oil India.