11 Mar 2022 , 02:22 PM
United Drilling Tools Ltd. has appointed Marketing Associates and Representatives to promote its product portfolio for oil exploration and completion equipments in Kuwait & United Arab Emirates (UAE).
The company said in a filing that this representation will open opportunities for UDTL to expand it market base in
1. Kuwait, where major state E&P company KOC, Kuwait Oil Company has a strong presence. We undertand that about 2000 no of wells are underplanning for next 5 years & KOC is drilling almost 400 new wells every year.
2. United Arab Emirates (UAE): The Abu Dhabi National Oil Company or ADNOC is the state-owned oil company of the United Arab Emirates. It is the world's 12th largest oil company by production. As of 2021, the company has an oil production capacity exceeding 4 million bpd with plans to increase to 5 million bpd by 2030. ADNOC is the largest drilling company in the Middle East, and has drilled more than 6,200 wells. Adnoc has total 99 number of operational rigs & total well delivered is 10,000. The target is for another 1000 wells by 2030.
“The market size for our range of products is about 250 crore per annum in Kuwait & 200 crore per annum in UAE. Thus, we have a strong chance of increasing our market share & profitability from these markets.
We are also pleased to inform you that in 2021, we have registered ourself with major global service providers such as Halliburton, Schlumberger, Baker Hughes. This registration has facilitated us to get enquiries across their global offices. Within short span of our registration, we have received some good number of development orders & executed. More enquiries from these global companies are in pipeline which will result in good size of order book for us,” company said in a filing on Friday.
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.