S&P Oilfield Products

These are exciting days for the worldwide oil and gas industry!Experts look well into the future and predict a favorable pricing environment. Demand for oil and gas in all continents is high. International drilling contractors are responding to the needs of petroleum producers, effectively reaching maximum utilization within current fleets.To meet the challenge, drilling fleets are being refurbished, new rigs are being built, and equipment is being allocated from all corners of the globe. However, the demand will continue to rise while the supply will continue to shallow.There was a time when drilling contractors could contact a rig manufacturer in North America and have a rig built in 3 months. These days are gone. With the lack of manufacturing capacity and used/new parts, international lead times have reached up to 10-12 months.International contractors do not need to turn away producers or contracts for lack of equipment. Quality drilling rigs and components which have passed iadc certifications can be sourced in a timely manner through s&p oilfield products ltd.

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