Technology is at the heart of the Enteq growth strategy. Investment in our engineering team is already delivering tangible organic growth for our drilling business with introduction of new products such as our pulser and EM transmission system. In parallel we are constantly looking for the right external partners to bring new engineering solutions to the business and help develop our MWD and Directional Drilling product lines. Our resistivity partnership with Target is one such partnership.
Our technology strategy is composed of three interlocking parts, together creating a very strong value proposition for our serivce company clients and ultimately the oil companies.
First Enteq aims to build discreet technology platforms which allow service company customers to delivers complete integrated service packages like those of the integrated majors and thus compete effectively on larger scopes of work. These technology platforms are inherently more reliable, easier to use and offer greater functionality than systems composed of components from many individual, small suppliers. These benefits deliver real economic value in terms of winning contracts and sustaining margins by minimising lost time and reducing oil company costs.
Secondly the Enteq team has a track record of democratising technology, that is taking high value, high technology services and engineering them for a much broader array of environments and users. Again giving our customers access to technology usually reserved for the majors gives them a major advantage when bidding for work as well as being able to broaden their own service offerings.
Finally Enteq through its own development team and/or its understanding of the market will identify unique technologies and make those available to our clients. These technologies may address broad market challenges such as data transmission rates or have very specific applications such as high temperature wells but either way will serve to differentiate our clients from their competitors and allow access to markets and end users which were not open in the past.