Rheochem, specialising in the provision of drilling additives, production chemicals and engineering services
Rheochem is a well established, diversified service company specialising in the provision of drilling additives, production chemicals and engineering services to the oil & gas, mineral and directional drilling sectors. Since beginning life as an engineering consultancy in 1988, Rheochem has grown to become a leading player in the supply of drilling fluids and engineering services for the onshore oil & gas market in Australia.
Organic growth opportunities in the region have seen the Company expand its operations into New Zealand and establish a footprint in India. Rheochem aims to continue to grow its core drilling additives and engineering services business in Australia, New Zealand and India, and penetrate other key international service centres for the global drilling industry.
The worlds drilling fluids market is estimated to be worth approximately US$3.5 billion per year, with average drilling fluid revenue generated by each offshore and onshore rig currently thought to be in the region of US$6 million and US$0.5 million respectively. It is also estimated that there are presently more than 4,200 active drilling rigs worldwide, providing a substantial opportunity in the global market for Rheochem.
The Company's position in the industry, management's technical expertise and industry contacts has provided the Company the opportunity to diversify its activities and move into the upstream oil and gas industry and secure potential near term development acreage in the North Sea, UK.
Rheochem Subsea Tags: Rheochem Perth, Australia, drilling additives, production chemicals and engineering services
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