After strong success in the US, a leading geological and geophysical (G&G) services client made a strategic decision to enter the MENA region. We immediately visited the client’s Houston Headquarters. Before signing any engagement, our team wanted to answer two basic questions:
- Is there a MENA market for them?
- Could we help them to enter it?
We deployed two Business Transformation Outsourcing (BTO) teams, one in Iraq and the other in the UAE, combining business development with operational expertise. We conducted oilfield scouting and technical meetings with various national and international oil companies, to determine the business opportunities where our client would be most competitive. We quickly established that our client would be more competitive working in Iraq, with the UAE as a secondary and longer-term market.
In Iraq, our strategy was clear to position our client as strategic partners with the Ministry of Oil. We set about connecting our client with the appropriate departments with the Ministry and framing an attractive proposition for both sides. Within three months, our client was at the table with the Ministry and a Memorandum of Understanding (MoU) was signed.
Within three months of the MoU, a Ministry delegation visited Houston, and a further three months later our client was the first international G&G company to receive an invitation to partner with the Iraqi government, covering projects on over fifty oil and gas fields, and representing potential revenue of over $200 million per year. Today, Iraq stands as our client’s highest growing MENA market.
$200M (Per Month) COVERING PROJECTS ON OVER FIFTY OIL AND GAS FIELDS, AND REPRESENTING POTENTIAL REVENUE
THE RESULT - Better understanding of:
- The MENA seismic market
- Stakeholders in UAE and Iraq
- Way of business
- Legal structure in UAE and Iraq
Stronger presence in the UAE and Iraqi markets