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Outlook optimistic for equipment rental

Nov 01, 2018
3 min read
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Scott Glatley, business development manager for Byrne Rental speaks to Pipeline Magazine about the company and its business outlook

 

How long have you been involved in the oil & gas sector?

Byrne Equipment Rental was founded in the UAE in the early 1990s and since then has grown to become one of the largest equipment rental solution providers to the oil and gas industry in the Middle East.

What area do you focus on?

We offer high quality equipment rental solutions to a broad variety of customers operating and renting our equipment for deployment into the Upstream, Midstream and Downstream sectors of the oil and gas industry across the Middle East. Byrne’s equipment solutions end users are oil and gas operators, drilling contractors and well service companies, Tier 1 EPC Contractors, marine construction contractors, marine logistics providers and Tier 2 service provider companies

Where are you located within the Middle East / GCC region?

Byrne has 15 operational bases, covering the UAE, KSA, Kuwait, Oman and Bahrain, and we have a fleet of over 10,000 items of equipment and a team of over 800 people.

What is your outlook for the oil and gas sector?

The outlook for the oil and gas sector is expected to be good for the remainder of 2018 and into 2019 with the rise in oil prices. There is therefore good reason to be optimistic that the remainder of 2018 is going to be a positive year for oilfield services firms across the region.

There are signs of recovery, with oil producing countries starting to revive postponed projects and spend on new projects due to the rise in oil prices and this should reflect positively on the revenues of services firms. Higher oil prices has also given confidence to operators to support production growth in the future. Operators will continue to deploy capital, drill wells and develop facilities. National oil companies in the Middle East region are investing heavily in the development of oilfields to boost production capacity.

A few of the larger operators, such as Abu Dhabi National Oil Company (ADNOC) and Saudi Aramco have announced new investments for the next three years. Kuwait Petroleum Corporation is also upping its spending on new projects. A buoyant oil and gas market place is predicted and Byrne is busy aligning our business and equipment rental solutions accordingly to support the increase in oil and gas projects and activities across the region.

What are you looking towards in the coming year, in terms of your business outlook?

Byrne shall continue to lead by example and maintain our position by introducing and offering to our existing and new customers across the region some new, more operationally efficient, technically advanced and safety focused equipment types that offer end user customers excellent operational uptime and at the same time realising a reduced OPEX. Byrne’s equipment range is built upon our successful ‘one stop shop’ model approach, and we shall continue to offer and enhance our bundled equipment rental solutions across all Byrne depots in region, enabling operational efficiency through equipment rental and lease solutions.

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