HOW HAVE WE EVOLVED?
Nuricon’s original line of business was representing various manufacturers of oil related equipment for the upstream, midstream and downstream segments of Pakistan’s energy industry. This business still continues but with a different mix of Principals which has been determined by changing industry trends, consolidation in the industry via mergers and acquisitions and Principals’ strategic direction.
Nuricon is very proud of its success in establishing significant market share for its Principals’ products in Pakistan. In some instances the success was sufficient for them to justify establishing their own direct presence in Pakistan.
As far back as 1986, Nuricon Management recognized that it was essential that it enter the services sector for the sake of its long term viability. At that time there was limited availability of Pakistani service people and customers were not entirely comfortable in reposing confidence in an indigenous service company. But with the support of the Ministry of Petroleum and one of its Principals at that time NL Baroid, Nuricon offered Mud Engineering services and was successful in securing its first contract from Pakistan Petroleum Limited on its Kandhkot field development drilling project. This was a pioneering move on Nuricon’s part as no other local indigenous company had ever done this in Pakistan. Nuricon prides itself as a “learning” organization and with the experience thus gained, it is now the market leader in providing equipment intensive services such as cathodic protection, slickline and mud logging. Recently it has entered coring services market after securing a contract from a large multinational E&P company. For each of these services, separate subsidiary companies have been incorporated.
While Nuricon remains focused on Pakistan’s energy industry, it also has the knowledge, experience and infrastructure to sell to adjacent markets such as Fertilizers, Power Generation, Petrochemicals etc. This has been necessitated by the fact that several of Nuricon’s Principals have products that have applications in these markets and to do justice to them it was imperative for it to develop capabilities to sell into them.
