Since the beginning of 2015, centered on the annual operational objectives and work plans, SSC has strengthened internal management, taken new steps in market development and carefully managed overseas projects with notable outcomes. Despite plummeting international crude oil prices, sharp slowdown in investment by oil companies, and serious global decrease in exploration and production workload, SSC has embraced trying times by actively exploring market and stepping up project management, leading to flourishing wellbore business in Saudi Arabia.
Sinopec Service Saudi has become the largest petroleum project contractor of Saudi Aramco.
With 51 drilling rigs in Saudi Arabia, SSC started to drill 199 wells in the first six months of 2015 and completed 198 wells with contract value of US$300 million, an increase of US$76 million over the same period last year.
SSC’s safe, high-quality and efficient production record in Saudi Arabia has been fully recognized by Saudi Aramco. SP103 drilling crews was highly praised by the project owner for its continuous full day rate. In addition, six drilling crews were awarded for no lost work day for a whole year and another crew was awarded for no lost work day for two whole years by Saudi Aramco.
To sustain the wellbore market in Saudi Arabia, Sinopec Service and regional petroleum engineering companies would give all-out support to the Sinopec Service Saudi in going through all wellbore professional qualification reviews by Saudi Aramco. Now it has gone through the gas well drilling qualification review, and sent relevant staff to Saudi Arabia to prepare for review documents.
Sinopec Service Kuwait keeps expanding its wellbore project business.
Sinopec Service Kuwait focused on uniform management to share resources and kept promoting overall economic returns. Since the first drilling rig began to work on November 2, 2009, Sinopec Service Kuwait has come a long way in the past five years and become the largest drilling and workover contractor of KNPC. Up till now, the 42 operating drilling and workover rigs in Kuwait have accumulated drilling of 411 wells and workover of 1,158 wells with contract value of US$700 million.
In the first six months of 2015, Sinopec Service Kuwait has begun to drill 64 wells and completed 50 wells with contract value of US$140 million, 244.7% compared with that of the same period last year.
Sinopec Service Kuwait keeps strengthening project management to ensure safe, efficient and smooth project operation. It has set up uniform production management platform and uniform production management standards. It sticks to the regular production meeting mechanism to pool wisdom of project departments of all regional subsidiaries. It has also introduced uniform production coordination to share logistical resources. Sinopec Service Kuwait won bidding for 27 drilling rigs last year and, by June 30, 2015, 26 of them have started to operate, a total of 2,444 days ahead of contract schedule, which won SSC 1.88 million dinars (US$6.24 million) of rewards for the drilling ahead of schedule.