Transformation of Kazakhstan’s drilling market for the good future
The Forum was opened by Christopher Hopkinson, first deputy Chairman of the Management Board of JSC NC «KazMunayGas», who emphasized the necessity to increase the efficiency and transparency in Kazakhstan’s drilling industry under the conditions of oil prices reduction.
Mr. Hopkinson noted: “We are not the only ones experiencing difficult times. We need to improve production and to drill wells cheaper and faster than it has ever been. Having said that, I want everyone to understand here today - I refuse to drill unprofitable wells”.
He gave clear opinion on this issue and appealed to the companies providing drilling and maintenance services to take measures to increase economic efficiency not only in current difficult market conditions, but also taking into account the future development. He also noted that he would be glad to familiarize with the ideas of other partners and oil field services suppliers and required to ensure transparency in reporting documents and use the best experience in environmental, health and safety fields.
The participants and organizers stressed the need to conduct such open discussion forums as KDR, and their important role during the inevitable periods of deteriorating market conditions. They paid special attention to the need of improving the efficiency in drilling industry by exchanging knowledge and experience and defining and comparing more effective methods and technologies.
KDR meetings were conducted in two individual sections, where the participants discussed questions of the day related to increase in drilling volumes and effectiveness as well as different cooperation agreements and new drilling and oil field services technologies proposed in the market.
As part of the forum, a welcome reception was held where the delegates received the opportunity to discuss news, take part in networking, establish new business contacts and discuss plans for conducting the next “round table” meeting - KDR 2016.