INCREASEING OUR FOCUS ON OPPORTUNITIES IN LOW CARBON GROWTH MARKETS

Tasman offers a broad range of drilling rental tools, fishing and re-entry tools, tubular handling equipment, pressure control equipment and mud management equipment along with the reassurance of in-house maintenance and specialised services. Tasman are operating in Australia, Malaysia, New Zealand, Saudi Arabia, Singapore and the United Arab Emirates and are continually adapting their services to support the transition to cleaner energy sources.

Our locations

Operating through four major international hubs, with a regional support network of depots and agents, we are able to service the Eastern Hemisphere, for any demand for drilling rental tools, or service of the same.

OUR products and services

We supply over 4,000 different products to the onshore and offshore oil, gas and geothermal drilling industries.

Strategically positioned in Australasia, the Middle East and Southeast Asia to meet any future industry demand.

PRODUCTS AND SERVICES:

  • Downhole drilling rental tools:
    • Bottom hole assembly
    • Tubulars
    • Handling tools
    • Mud management tools
  • Fishing and re-entry tools
  • Pressure control equipment rental
  • Third-party tool servicing and management

OPERATIONAL PERFORMANCE

  • Highest level of QHSE maintained 
  • Increased exposure to LNG in Australia 
  • Increased rental rates wherever possible 
  • Tight cost control in the Middle East 
  • Increased investment in the hire fleet to support secured contracts 
  • Tasman now utilising the assets purchased from a distressed competitor in late 2018 across all locations
  • Depot in Singapore operation since early 2019 with encouraging revenue in the second half of the year 
  • First carbon capture drilling project 
  • Renegotiation of contracts within the joint venture in Malaysia on improved terms

Market opportunities

  • At least $14.8 billion worth of gas projects are on track for final
    investment decisions next year, according to Wood Mackenzie’s
    (“WoodMac”) Australasian upstream 2021 outlook.
  • Australia is the largest LNG exporter in the world today, with Malaysia
    holding third spot.
  • Demand part driven by “regasification”, replacing coal with gas for
    power generation purposes; Vietnam, the Philippines and Pakistan
    have embarked on large scale projects, with China and India leading
    the way.
  • Balance demand driven by “energy transition” to hydrogen.

LNG facts

  • Australia is the top global exporter of LNG, whilst Malaysia is numberfour in the world.
  • China, Japan and South Korea are three of the largest importer LNG – all supplied by Australia.
  • Regasification is underway within our region; Vietnam, the Philippines and Pakistan are all currently converting coal to gas for energy.
  • The Government will implement its Natural Gas Roadmap (“NGR”) in 2021.
  • Clean hydrogen is an essential complement to electrification on the path to net zero. Blue hydrogen, integrated with carbon capture and storage (“CCS”), can provide the scale and reliability needed by industrial processes. It can also play an essential role in decarbonising hard-to-electrify industries and driving down the cost of the energy transition.

Countries around the world are already betting on hydrogen as a viable
renewable energy source.

  • Australia is currently one of the top three exporters of hydrogen to the Asian markets, with three operating hydrogen projects and 29 hydrogen related research projects currently in progress.
  • The Australian Government has spent over A$146 million between 2015 and 2019 on hydrogen related industrial and R&D projects, feasibility studies and pilot programmes and is committed to funding Australia’s first hydrogen hub as part of a A$1.9 billion investment package in future technologies to lower emissions.
  • The Australian Government has committed A$370 million to advancing Australia’s hydrogen industry since the release of the National Hydrogen Strategy.
  • Saudi Arabia is setting its sights on becoming the world’s largest supplier of hydrogen, a market that could be worth as much as $700 billion by 2050. The kingdom is building a $5 billion plant to make green fuel for export.
  • New Zealand also has five hydrogen related projects under development.

major end markets 

  • Natural gas drilling tools
  • Geothermal drilling tools
  • Carbon capture storage drilling tools
  • Oil drilling tools