Superior Drilling Products plan to enter the Middle Eastern market through a service partnership with Smith International Gulf Services (SIGS) with the intention of launching the US company’s wellbore tool in the region, the company stated in a press release.
The agreement has an initial one-year term and will be automatically renewed until terminated by either party.
Superior Drilling’s Drill-N-Ream (DnR) tool conditions the wellbore, making it simpler to get casing to the bottom, the company stated.
“This agreement represents a vital step in the establishment of our Middle East business. As we approach the end of our one year market development research effort and look ahead to gaining market share in the region, local repair and servicing capability is a necessity,” Troy Meier, chairman and CEO of Superior Drilling. said.
Meier added that SIGS will allow the company to rapidly deploy field service facilities throughout the region because of its extensive regional experience and infrastructure.
Under the agreement, SIGS will provide warehouse space workshop facilities and personnel, and tool damage evaluation and repair. Logistical services also include import/export management, tool storage and dispatch to end users, the company said.
The services will initially be deployed in Dubai with expansion options into Saudi Arabia and Kuwait.