Closure Interview: Evgeny Boldyrev, Executive Vice President, NewTech Services
Please describe your role at NewTech Services and your responsibilities.
Within the company I am responsible for developing our current business lines and for launching new projects, both domestically within Russia and also internationally in areas such as Kazakhstan.
My tasks also include the control and development of our many manufacturing businesses.
NewTech Services is a fast growing, dynamic company and I am responsible for ensuring continued growth in all parts of our business.
Since 2009, NewTech Services have grown to become an international supplier of oilfield services to the upstream sector. Please describe your offerings and areas of strength.
NewTech Services is a manufacturer of high-technology oilfield equipment and provides advanced solutions for oil and gas companies.
Among the key services we provide, are the supply of premium drilling tools, including “best in class” drill bits.
Separately, we offer highly efficient directional drilling and well completion services.
In order to provide services of excellent quality, we develop and manufacture equipment at factories in Russia, the United States and Great Britain.
The company provides many years of quality oilfield experience and working very closely with our clients, to understand their full requirements – we aim to always better our customer expectations.
We also have very high HSE standards and work in full accordance to all production and safety requirements.
The markets have been tough now in the oil patch for some years, but how is business for you at the moment within Russia and the Caspian?
Yes, it is true that the markets have been tough and in fact, the marketplace is very complicated today. One of the key issues is that the price for oilfield services in Russia have significantly declined on one hand, but on the other hand, competition in a number of areas is very strong.
In order for NewTech Services to maintain and even build upon our market position, a major effort has been undertaken to optimize costs in addition to restructuring our business areas.
As a result of these very successful activities and the diversification of our business, we have successfully managed to increase market share in all current business areas.
We are also continually developing new products and technologies at our R&D and technology centers.
This ensures that NewTech Services offer only the best products and services to our clients.
What recent success stories can you tell us about? Where have NewTech Services been implemented with provable benefits and results?
We have seen excellent results in our big projects so far in 2017. For instance, our operations within the Orenburg and Novoportovskoye fields have seen record-breaking penetration rates gained using correct premium drill bit selection. This gained huge cost savings for our customer and was made possible thanks to NewTech Services specialists working with the client to effectively understand the parameters of the project. An important factor of success on these projects was the fact that our full-cycle plant for the production of drill bits, in Kurgan, is located in the immediate vicinity of regional oil and gas projects. This allowed us to quickly upgrade the design of the bits and choose the best for these drilling conditions. The development and manufacture of drill bits was carried out in two weeks.
We have also significantly grown the scope of well completion works and have performed a number of successful liner hanger running operations, using multiple-stage well intervention in Megion and Orenburg.
The regional oilfield service sector is very competitive, with both local and international players vying for business. Why should NewTech Services be considered as a project partner?
As mentioned in previous answers – NewTech Services is a young company with a unique team who listen to and work closely with our customers with the aim of gaining key positions within the oilfield service market.
Our main task is to produce premium solutions and render good quality services so that our clients can reduce well construction costs.
We also own advanced production facilities and R&D centers across Russia, USA and Great Britain. This gives us the lead on technological developments and breakthroughs and gives us access to advanced technologies throughout the globe. It is also very important to note that our global manufacturing teams and R&D centers are fully integrated, ensuring real time communications between global centers. Experience and knowledge is exchanged and shared between our facilities, ensuring optimal product development.
We also ensure 24/7 customer support across the entire world!
Do you have any new technologies currently in development or plans to expand the services you offer?
Yes, for sure: in our R&D center in Houston, active work is under way on designing advanced LWD equipment. We expect that our LWD Triple Combo prototype will be completed by the end of the year, which is very exciting! This equipment will make it possible to measure formation resistivity, neutron porosity and rock density. We are planning pilot operations on this equipment for the first quarter of 2018.
Over the past year we have developed and put into production the key elements for the completion of wells, such as liner hanger, multi stage fracturing systems, swellable packers.
Our designers have also recently developed a unique formation protection valve, which enables us to protect a productive formation against «contamination» by killing fluids when replacing ESP during well reconditioning or workover.
Pilot operations on these technologies are scheduled to take place in the Russian Federation in October of this year.
Under the import substitution program, a strong team of designers, tasked with developing new equipment has been formed at our drilling equipment plant in Perm. This has produced outstanding recent results with double-acting drilling jars, circulation subs and a weight on bit tool having been designed, tested and put into commercial operation.
What are the next steps for NewTech Services in terms of market development, both locally and internationally?
In the next 3 years, we have plans to double our market share in Russia within our current business areas. To achieve these goals, huge investments have been made at our regional facilities/plants. We have invested into the latest machinery to ensure quality increases in production. We will be increasing the production capacity of our plants by 40%, by the end of 2017.
We also focus on business development outside of Russia and currently have a strong focus on developing work in Saudi Arabia, the United Arab Emirates and Algeria.
The company also plans to launch new business lines, with plans to develop drilling fluids, cementing wells and geophysical studies currently progress.
We are confident that NewTech Services will not only grown in line with our development plans, but also be recognized as the regional leader in upstream oilfield offerings.
Within the company I am responsible for developing our current business lines and for launching new projects, both domestically within Russia and also internationally in areas such as Kazakhstan.
My tasks also include the control and development of our many manufacturing businesses.
NewTech Services is a fast growing, dynamic company and I am responsible for ensuring continued growth in all parts of our business.
Since 2009, NewTech Services have grown to become an international supplier of oilfield services to the upstream sector. Please describe your offerings and areas of strength.
NewTech Services is a manufacturer of high-technology oilfield equipment and provides advanced solutions for oil and gas companies.
Among the key services we provide, are the supply of premium drilling tools, including “best in class” drill bits.
Separately, we offer highly efficient directional drilling and well completion services.
In order to provide services of excellent quality, we develop and manufacture equipment at factories in Russia, the United States and Great Britain.
The company provides many years of quality oilfield experience and working very closely with our clients, to understand their full requirements – we aim to always better our customer expectations.
We also have very high HSE standards and work in full accordance to all production and safety requirements.
The markets have been tough now in the oil patch for some years, but how is business for you at the moment within Russia and the Caspian?
Yes, it is true that the markets have been tough and in fact, the marketplace is very complicated today. One of the key issues is that the price for oilfield services in Russia have significantly declined on one hand, but on the other hand, competition in a number of areas is very strong.
In order for NewTech Services to maintain and even build upon our market position, a major effort has been undertaken to optimize costs in addition to restructuring our business areas.
As a result of these very successful activities and the diversification of our business, we have successfully managed to increase market share in all current business areas.
We are also continually developing new products and technologies at our R&D and technology centers.
This ensures that NewTech Services offer only the best products and services to our clients.
What recent success stories can you tell us about? Where have NewTech Services been implemented with provable benefits and results?
We have seen excellent results in our big projects so far in 2017. For instance, our operations within the Orenburg and Novoportovskoye fields have seen record-breaking penetration rates gained using correct premium drill bit selection. This gained huge cost savings for our customer and was made possible thanks to NewTech Services specialists working with the client to effectively understand the parameters of the project. An important factor of success on these projects was the fact that our full-cycle plant for the production of drill bits, in Kurgan, is located in the immediate vicinity of regional oil and gas projects. This allowed us to quickly upgrade the design of the bits and choose the best for these drilling conditions. The development and manufacture of drill bits was carried out in two weeks.
We have also significantly grown the scope of well completion works and have performed a number of successful liner hanger running operations, using multiple-stage well intervention in Megion and Orenburg.
The regional oilfield service sector is very competitive, with both local and international players vying for business. Why should NewTech Services be considered as a project partner?
As mentioned in previous answers – NewTech Services is a young company with a unique team who listen to and work closely with our customers with the aim of gaining key positions within the oilfield service market.
Our main task is to produce premium solutions and render good quality services so that our clients can reduce well construction costs.
We also own advanced production facilities and R&D centers across Russia, USA and Great Britain. This gives us the lead on technological developments and breakthroughs and gives us access to advanced technologies throughout the globe. It is also very important to note that our global manufacturing teams and R&D centers are fully integrated, ensuring real time communications between global centers. Experience and knowledge is exchanged and shared between our facilities, ensuring optimal product development.
We also ensure 24/7 customer support across the entire world!
Do you have any new technologies currently in development or plans to expand the services you offer?
Yes, for sure: in our R&D center in Houston, active work is under way on designing advanced LWD equipment. We expect that our LWD Triple Combo prototype will be completed by the end of the year, which is very exciting! This equipment will make it possible to measure formation resistivity, neutron porosity and rock density. We are planning pilot operations on this equipment for the first quarter of 2018.
Over the past year we have developed and put into production the key elements for the completion of wells, such as liner hanger, multi stage fracturing systems, swellable packers.
Our designers have also recently developed a unique formation protection valve, which enables us to protect a productive formation against «contamination» by killing fluids when replacing ESP during well reconditioning or workover.
Pilot operations on these technologies are scheduled to take place in the Russian Federation in October of this year.
Under the import substitution program, a strong team of designers, tasked with developing new equipment has been formed at our drilling equipment plant in Perm. This has produced outstanding recent results with double-acting drilling jars, circulation subs and a weight on bit tool having been designed, tested and put into commercial operation.
What are the next steps for NewTech Services in terms of market development, both locally and internationally?
In the next 3 years, we have plans to double our market share in Russia within our current business areas. To achieve these goals, huge investments have been made at our regional facilities/plants. We have invested into the latest machinery to ensure quality increases in production. We will be increasing the production capacity of our plants by 40%, by the end of 2017.
We also focus on business development outside of Russia and currently have a strong focus on developing work in Saudi Arabia, the United Arab Emirates and Algeria.
The company also plans to launch new business lines, with plans to develop drilling fluids, cementing wells and geophysical studies currently progress.
We are confident that NewTech Services will not only grown in line with our development plans, but also be recognized as the regional leader in upstream oilfield offerings.
CLOSURE INTERVIEW
