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The foremost indigenous oilfield service company in Nigeria offering oilfield tubular, accessory manufacturing and repair services.

Contacts
Location
28, Rayomnd Njoku Street
Ikoyi, Lagos -Nigeria
Phone
+234 903 000 6707
Email
info@titantubulars.com
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Get In Touch
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Industry Overview

Industry Overview

Oil Country Tubular Goods (OCTG) is an essential component of the oil and gas industry, used in drilling and completing oil and gas wells. OCTG costs are the second largest part of the overall well expenses, after drilling and completion. During periods of high oil prices, the demand for OCTG surges, which leads to increased investment in drilling more wells.

Currently, the world is experiencing a period of sustained oil prices, and this trend has already started affecting the global OCTG markets, with an increased demand for these goods. Although there’s a push for greener energy sources, there are various limiting factors slowing them down and a solution will not be reached overnight. Fossil fuels have proven to be the most reliable energy source and will continue to secure investments as we transition to cleaner energy sources. These are pointers that show that investments in the Oil and Gas industry are still crucial and will increase to meet the ever-burgeoning energy demands.

 

about titan tubulars

Proudly indigenous oil & gas service company delivering world-class solutions.

In Nigeria, the industry is set for a decade of growth as recent changes and bills act as catalysts for investments and expansion.

 The Petroleum Industry Act (PIA) has led to external funding into the Nigerian market and its effects are evident in the new and old projects coming to life. These investments will lead to an increased demand for OCTG goods in the country. Titan Tubulars is set to be a major beneficiary of these new developments.

The National Content Development and Monitoring Board (NCDMB) through the Local Content Act is charged with ensuring that Local companies operating threading facilities locally, can participate in OCTG-related tenders and ensure some protection of their interests. Titan Tubulars is one of the approved companies and will reap the rewards of these government policies.

S.W.O.T Analysis

Strengths
  • Nigeria’s high-quality, low-sulphur content crude, which is in large quantities.
  • Diversified hydrocarbon exports between oil, gas and LNG.
  • Introduction of the Petroleum Industry Act which creates clarity within the oil and gas industry.
Weakness
  • The current version of the PIA falls short of adequately addressing the economic & environmental concerns of host communities.
  • The government currently cannot match the investments of foreign companies in the industry.
  • Our LNG infrastructure isn’t able to meet up with rising demands.
Opportunities
  • Increased investments in the industry.
  • Increasing oil prices.
  • Several large proven pre-final investment decision offshore oil projects, which could drive long-term production growth.
Threats
  • Growing competition from light, sweet crude exports from the US and other Western countries.
  • Militancy and terrorism
  • Russia’s eagerness to sell their crude on the cheap to Asian and Middle Eastern countries.
Our Services

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