Prodrill elevates its position in the market

Last year, the short term outlook for the drilling industry remained tough with operators continuing to reduce activity and spending, specifically within the UKCS. Reassuringly, it seems that the industry may have now turned a corner, with the first two quarters of 2010 showing a much more positive outlook as operators begin to explore further afield in developing markets, utilising increasingly complex techniques of extraction.

According to reports*, global drilling expenditure is forecast to grow at an annual average growth rate of about 6.6% in the forecast period of 2009 to 2015, to more than $490 Billion, particularly within areas such as West Africa, Brazil and Asia Pacific. With increasingly exploratory operations come reflective shifts in recruitment – notably positive across the board for both the creation of jobs and in turn, the need for contractors.

This is positive news for leading oilfield resource solutions consultancy, Prodrill, which is showing no signs of slowing down as it reflects twelve months on from its shareholder buyout from Sovereign Oilfield Group.

Where previously Prodrill attributed 20% of its project’s internationally and 80% within the UKCS, it has now seen a shift in line with recent trends seeing an even 50/50% split as exploration develops further afield.

“The first quarter of 2010 has shown a considerable shift towards international placement in comparison to last year,” says Prodrill’s Business Development Director, Mike Macdonald. “Over the past four years we have noticed around a 30% shift from UK projects to international, with considerable growth within the Middle East and African markets in line with industry drilling trends.”

Expanding Opportunities for Specialists

“As operators seek further afield for reserves, such as the recent trend for extending frontier exploration, the demand for advanced drilling and seismic technologies has increased due to the complexity of extraction,” says Steve Redgrave, Chairman, who has over 35 years experience within the industry.

“Fortunately, the positive factors in exploratory operations outweigh the negatives, and will ultimately increase efficiency and lead to a reduction in extraction costs. This has urged operators to recruit highly specialised contractors to help them reach previously inaccessible areas. Exploration drilling activity also tends to signal long-term project length, in turn increasing the requirement for long-term specialised personnel – a shift that has had a significant impact on the geographical distribution of our consultants.”

Prodrill, which has capitalised on strong working relationships with industry majors, has become one of the leading providers of oil and gas specialist consultants. By hosting a talent pool of thousands of existing and independent consultants through its dedicated website, the company has continued to source the right people for projects within both existing and emerging markets.

“We are committed to continuous in-depth industry research so we stay ahead of the game and retain our reputation as experts in the provision of experienced consultants,” continues Steve. “By continually assessing our geographical areas of concentration, we are able to anticipate regions of potential growth. This way we can source the best positions available throughout the globe whilst ensuring we can respond to the exacting requirements of the personnel required by operators within 24hrs.”

“Whilst international growth has taken a step forward, we also recognise the continued necessity for consultants within the UK. Technical support and local expertise continues to play an essential role in the industry whilst we provide opportunities for others further afield.”

Moving On Up

Thanks to its continuing ability to proactively shift with recruitment trends, Prodrill, which supports clients’ operations in 22 countries throughout the globe, has welcomed a recent move to prestigious offices within the UK Oil Capital, Aberdeen as it celebrates its 28th trading year.

With over 300 applications per month, Prodrill continues to cement close partnerships with global industry majors, oil operators, independents and integrated service contractors.

“We have been in the fortunate position to move to much larger premises this year,” says Prodrill’s Managing Director Louise Wood. “We have settled in nicely to our 2800sq ft new home, in the city’s Albyn Terrace, which has meant we have been able to take the next step in our service offering. As well as housing our 12 employees, we now have additional space for our consultants to access and work in dedicated quiet spaces if they need time away from their normal working environment which can be busy.”

Prodrill sources the best consultants for positions by advertising work scopes throughout the globe. Its continued investment in search engine optimisation means the website is being accessed easily in every region in which it does business.

“We haven’t got to the position we are in today without a lot of hard work, dedication, and brand building with clients worldwide,” continues Louise. “We have committed to major investment to ensure we cement our position in the industry, whilst remaining as efficient and forward-thinking as possible in this fast paced market.”

The Year Ahead

“We anticipate continued growth, specifically within the Middle East, North and West Africa with over 60% of business received coming from these regions in Q1 2010.

We remain dedicated to servicing our global clients and continue to visit our international customers on a regular basis to understand their recruitment objectives through cultural interaction. In a forth coming trip planned to the Middle East, Prodrill will be exhibiting at Offshore Middle East in Qatar during October. We have always held excellent relationships and business levels in Qatar, working hand in hand with our in-country partner to strengthen our relationships,” Louise explains.

“We are also keen to develop local talent here in the UK, and are currently working with the Robert Gordon University (RGU), Master of Business Administration (MBA) course. As part of this initiative, Prodrill has set students the task of Internationalisation with the focus on Prodrill’s global office strategy.”

After 28 trading years in the Oil & Gas industry, and as a market leader supplying personnel to the drilling and well engineering sectors, when asked of Prodrill’s long term strategy Louise responded, “2020 seems a long way off in anyone’s calendar however, Prodrill has a very strong vision; including a network of global recruitment hubs, diversification of business streams and taking our brand to emerging frontiers. Wherever our client’s exploration programmes take them we will follow, bolstering the relationships between our consultants and our customers with true dedication.”

Prodrill will be at Offshore Middle East, Qatar, from the 12-14th October at booth 408.

*The Future of the Offshore Drilling Industry to 2015 – GBI Research, Feb 2010