Presentation
Caroil, a wholly owned subsidiary of Maurel & Prom, started offering oil drilling and mining services in the beginning of the 2000s when the Group decided to speed development on its M’Boundi and Kouakouala oil fi elds in the Congo.
Accompanying the Maurel & Prom Group in its development while seeking to control its market risks, the company Caroil gradually diversifi ed and enlarged its portfolio of equipment as well as its international presence. The company is now owner of 15 rigs with a range from 250 CV to 2,000 CV.
Caroil’s investments (acquisition of capacity or renewals) were primarily fi nanced by cash contributions from its parent company. Today, Caroil has developed resources that allow it to self-fi nance its recurring expenses.
Strategy
The cost of leasing a rig represents statistically 1/4 to 1/3 of the total cost of drilling an oil well for development or exploration. Thus Caroil allows the Maurel & Prom Group to at once:
• Accelerate exploration and development of its oil fi elds.
• Control drilling costs.
• Take advantage of the opportunity to initiate contacts at a lower cost in order to enter on promising exploration licenses.
Caroil’s development strategy follows two trends:
• To build and use fully owned rigs.
• Specialise and be recognised as a professional company
for onshore drilling services by broadening its customer
base while maintaining its special relationship with Maurel
& Prom.
Initiated in 2005, the customer diversifi cation policy has enabled Caroil to noticeably increase its contribution to the sales and fi nancial results of the Maurel & Prom Group.
In 2010, Caroil will remain true to its objectives by emphasising:
• The development of its portfolio of varied customers.
• The enduring high quality of its services.
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