SEVERAL oil and gas companies specialising in the provision of drilling fluids are waiting in anticipation of a relatively large tender that is likely to be announced soon by Petroliam Nasional Bhd (Petronas). We (drilling fluid suppliers) have been waiting for a few months now for it,” he said early last week. In short, drilling fluids are used to reduce friction during exploration works. Petronas’ Activity Outlook 2022-2024 indicates that the existing drilling fluid contracts will expire in the middle of next year, which makes it likely that tenders will be called soon. If things are maintained, there will be a lot of activity, but if oil prices plunge again, exploration will halt and there will be little use for drilling fluid.
