Terrapinn: time is very ripe for foreign partnerships in Russia, Focus Communication
Release Date: 2010-02-08
Noel Hillmann, Project Director of Terrapinn, organizer of a recent conference 'Oil and Gas Outlook' in Moscow, shares his impressions of the conference evaluating the general situation on the market of oil and gas service providers
As Oil and Gas Outlook 2009 draws to a close, how would Terrapinn rate the overall success of the event?
A testament to the conference’s success is the obvious fact that international oil companies are very open to engaging with the national companies on the level that the nationals want to work on. The center of the marketplace’s strength sits with the national oil companies and it is around this framework that the international companies need to work in order to operate here. However, it appears that power has shifted in some ways with the international oil groups supplying technology and individual consultancies working much closer with national oil companies to provide needed expertise. We are also extremely satisfied with the caliber of speakers at the conference. There have been some unforeseen circumstances that prevented some speakers from attending but overall we are happy with the speaker turnout.
What are the most important points that a participant should take away from the conference?
There is a great deal of international service providers who are quite willing to get involved in the Russian marketplace. It appears to have opened up many possibilities for the Russian national oil groups; they no longer need to create their own access to the fields. They can get technology and expertise from international service providers who are more than happy to get involved. As prices appear to have gone down for international service providers it now seems like a much more viable option for Russian companies to work with them. Hence I say that the internationals are so enthusiastic about engaging at the conference and sharing their capacity to provide.
It used to be a lot more difficult to get certain internationals involved with the event. Now, national oil groups seem much more willing to talk with them about partnerships and joint projects. When looking at the arctic and new fields for exploration, it is very evident that those internationals who have an expertise working in similar environments are going to come out as the real winners from all of this. The time is very ripe for foreign partnerships in Russia.
| Type: | NORMAL |
| Company: | Focus Communication |
| Country: | Russian Federation |