Bandera Oil Tools’ role in Trinidad and Tobago’s oilfield equipment supply

Marc Sitaram, Operations Manager at Bandera Oil Tools, discusses the company’s strategic approach to supplying oilfield equipment in Trinidad and Tobago and the drivers behind the demand they encounter. Bandera Oil Tools provides equipment for both onshore and offshore operations.

Q: How would you describe your core activity and business model in Trinidad?

Marc Sitaram: When Bandera started operations in Trinidad, our initial focus was on refurbishing drill bits for land-based drilling operators. Over time, we expanded our offerings to include a variety of other products, in addition to drill bits primarily manufactured in the USA. Although we were acquired by Anfield Services a few years ago, our operations have remained consistent.

Despite a decline in land drilling operations, we still serve the same clientele and maintain a steady workload. We represent several product lines, such as Kingdream drill bits, and are the sole agents for American block flowline products in Trinidad. Additionally, we are the exclusive agents for Derrick shale shakers, Bestolife thread compounds, and Eneroil in Trinidad, Guyana, and Suriname. We also supply Smith and Baker Hughes drill bits.

Q: How would you describe the demand that you have been experiencing from the Trinidadian producers?

Marc Sitaram: Onshore drilling activity in Trinidad remains robust, with Bandera capturing about 90% of the drill bit market share. We supply companies like Touchstone Exploration, who are actively drilling in the Cascadura and Coora projects, as well as Lease Operators, Heritage Petroleum, and Petroleum Contracting Services.

The onshore market in Trinidad is currently more active than offshore, which benefits us. With many drilling projects planned for 2024, we expect significant contributions to our activity and business revenue from land-based operations.

Q: Are there any key factors that influence the regularity of the demand for drill bits in your market share for onshore activity?

Marc Sitaram: The demand for drill bits is influenced by several factors, including well design, depth, and the bit’s brand. Land formations also play a role, as they can dictate the lifespan of a bit, sometimes requiring multiple bits for a single well section.

Clients order bits, thread compounds, or casing based on their drilling needs. We offer various bit types, such as PDC bits, mill tooth bits, and tungsten carbide (TCI) bits, which are commonly used by all operators. Occasionally, operators encounter changes in formation that necessitate more resilient bits.

While we rarely receive requests from offshore operators due to their preference for integrated service companies, we can supply specific bits when needed.

Q: Are you currently supplying operators in the wider region, such as Guyana or Suriname?

Marc Sitaram: In Guyana, major international service companies like SLB, Halliburton, Baker Hughes, and EnerMech dominate the market. Our involvement primarily includes providing thread compounds, representing BESTOLIFE products in the region.

In Suriname, we have a longstanding relationship with Staatsolie, continuing to supply them with drill bits through 2024. We also work with Decker Petroleum & Marketing Company, supplying various products from our portfolio.

Touchstone Exploration Inc (LON:TXP) is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago. Primera Oil and Gas is the Trinidadian subsidiary of Touchstone.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
Touchstone Exploration

More articles like this

Touchstone Exploration

Why choose Trinidad for oil and gas investment?

Trinidad, a vibrant Caribbean island, is approximately 5,000 square kilometres in size and lies just northeast of Venezuela, separated by a narrow strait less than 11 kilometres wide. Geographically, it sits within the vast Venezuela Basin,

Touchstone Exploration

Energy demand and innovation

The oil and gas sector continues to play a crucial role in the global energy landscape, despite increasing emphasis on renewable sources. With the world’s energy needs steadily rising, the demand for hydrocarbons remains strong, particularly

Touchstone Exploration

Advantages of natural gas for your home or business

Natural gas provides a reliable, continuous energy source that enhances comfort and efficiency. Its consistent supply ensures your home remains warm and inviting, with a uniform temperature throughout. Enjoy uninterrupted hot water whenever you need it,

Touchstone Exploration

Natural gas could be the key to powering data centres

Amid the surging demand driven by artificial intelligence, natural gas is emerging as a potential solution to the power challenges faced by data centres. Goldman Sachs has projected that the United States alone will require an

Touchstone Exploration

Ukrainian seizure of pipeline spikes gas prices

Ukrainian forces have taken control of a critical section of the natural gas pipeline in Sudzha, a Russian border town in the Kursk region. The conflict in the area has been ongoing for three days. The

Touchstone Exploration

Trinidad & Tobago: A thriving hub for oil and gas industry

Trinidad & Tobago has long been recognised as a pivotal player in the global oil and gas industry. With its rich natural resources and strategic geographical location, the nation continues to attract significant investments and development

Touchstone Exploration expands Trinidad & Tobago operations

Touchstone Exploration, an independent company based in Calgary, has advanced towards exploring two additional blocks in Trinidad & Tobago. This Caribbean nation is a crucial area for the London-listed company, which began gas production at its

Touchstone Exploration

Touchstone secures new licences for Cipero and Charuma blocks

Touchstone Exploration Inc. has announced that its Trinidadian subsidiary, Primera Oil and Gas Limited (POGL), has secured Exploration and Production (Public Petroleum Rights) Licences for the Cipero and Charuma blocks. These licences came into effect on

Touchstone Exploration

Touchstone Exploration expands in Trinidad and Tobago

Touchstone Exploration Inc., a company based in Calgary, has expanded its operations in Trinidad and Tobago through its subsidiary Primera Oil and Gas Ltd. (POGL). The company has secured exploration and production licences for the Cipero

Touchstone Exploration

Natural gas prices surge amid European negotiations

Natural gas prices (XNG/USD) surged higher on Tuesday, approaching a new yearly high. This uptick comes as Europe deliberates on maintaining gas flows via Ukraine for the next year and amidst an increase in supply from