The construction industry in the oilfield is growing. To get the next oilfield project up and running, you need sophisticated oilfield equipment. Many industries depend on oil, making it a precious commodity worldwide. For procuring such a precious commodity, you need not only the correct equipment, but also reliable equipment that doesn’t fail.
To start, the complex drilling process involves precision, and requires multiple advanced types of oilfield equipment that need to work in tandem to make ensure the best results. This is where oilfield equipment comes into play and its importance of locating today’s most sought-after commodity: oil.
Any professional oilfield contracting company should use tracking devices for this purpose, which should have the ability to search within close range for the presence of oil. Once the oilfield location is found, the drilling and gathering process can be started. Special emphasis is laid on finding the actual oilfield location because selecting the wrong site means waisting money, time and resources.
Starting the Drilling Process
Immediately after designating the oilfield site, the drilling process is started. During the drilling process, the gathering of oil in several oil wells needs to be monitored closely with proper equipment. Oilfields and oil wells can be located in remote areas, several miles away from where people reside, even in deserts or in the ocean. Before even starting to drill, you need electricity up and running to power the equipment. With some oilfields located far from readily available sources of electricity, this can be a challenge. Additionally, testing laboratories and staff quarters are needed so that the process can continue around the clock. For all this, the oilfield construction company will need to get these working, and then bring in staff to begin drilling.
Getting the Right People to Do It
If you do not have the right person to use your equipment, what good can it do? When such complex oilfield equipment is put to use, the contracting company should also enlist qualified manpower to use the equipment and get the same to work in full capacity. These key people are the ones with professional training and have studied the oilfield equipment and can even troubleshoot any errors that may arise during the drilling process.
Maintaining the Equipment
Not only does the oilfield equipment require constant checking while in operation, timely maintenance and repair are also needed in order to avoid breakdown and big expenses. In some cases, major parts sustain regular damage due to the constant pressure and usage.
Oilfield construction depends heavily on oilfield equipment and construction engineers need to have a complete idea of the equipment they are about to put to use. Oilfield equipment is often not only large in size, but also in price and repair costs.
If your oilfield service company needs working capital to repair, maintain or purchase new oilfield equipment, we can help. For more than 20 years, our oilfield factoring services have provided a cash-flow solution to companies like yours across North America.
Scale Funding is an invoice factoring company serving businesses across the United States. For more information on factoring, call (800) 707-4845 for a free, no-obligation consultation and quote.
To learn more about oilfield factoring, fill out the form below to download “The Definitive Guide to Factoring.”