This is a greenfield market, one that will produce 750kbbl/1mbbl per day by 2028. XOM is the only current producer, along with non-operated partners Hess & CNOOC. There are very few such opportunities world-wide for growth in OCTG business.
There are 14 other active players in the region pursuing exploration and production, either as Operators or Non-operator partners. Of those 14, 6 are international players and the remainder sub-mid-sized.
Market mapping, licensing and negotiations with Opco’s and Govt Agencies.