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Independent Companies

Definition:

Independent companies (Independents) refer to Oil & Gas and Petrochemical operators that are neither international oil companies (IOCs) nor national oil companies (NOCs).

These Independent companies are relatively new, first playing locally and not related to governments.

There are several hundreds of these independent companies mostly registered in USA, UK and more recently in China as per some examples here : Apache, DNO, Consol, Kisault, Anadarko, Samudra, Noble, Tullow, etc.

Comments:

Originally, independent companies used to be small companies of entrepreneurs with limited ressources exploring marginal fields, but some have grown up into large firms with interests on several continent with subsantial portfolio of projects.
Most of independent companies are still modest in size, giving them the advantage of being dynamic local players. In certain cases, this flexibility of Independents Operators goes up to see a company be created for a single dedicated project.

The Independents is also different from IOCs and NOCs by their number of actors.

While IOCs are around ten and NOCs around one hundred, we list more than 300 companies in Project Smart Explorer under an independent banner.

These independent companies were established by expert geologists, process specialists or financial investors.

Today most of these independent companies rely on smaller and lighter organizational structures than the IOCs and NOCs.

Because of their agility, their projects adopt a different timeframe, they usually have hard to start, but then they run on Fast-Track of around 2 years in contrast with the usual 4/5 years large projects.

These, so called, Fast-Track projects are even harder to pursuit for the contractors and manufacturers because the time to interact at FEED and EPC phases shrink to few months when it used to last years.

By their number and business model, the independent companies are leading the Oil & Gas and Petrochemical market rebound we observe in 2018.

More than a market niche, the independent companies represent approximately 30% of the market making them unavoidable players of the Oil&Gas and Petrochemical industry.

 

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