| 13 T T Karen Phelps Audacious approach reaps rewards Petromac has built its success on exclusive leasing agreements supported by engineering expertise and remote operational support. REGIONAL DEVELOPMENT Petromac New Zealand is often seen as a small player in the global marketplace, but according to Petromac founder Stephen McCormick, being small can bring distinct advantages for Kiwi businesses willing to think outside the box. Petromac designs and manufactures cutting-edge devices for the wireline logging industry, working in collaboration with Fortune 500 giants in the upstream oil and gas sector. Petromac’s success lies not only in innovative technology, but also in a bold business model that challenges industry norms. “Petromac has a pretty unusual business model. Everything is made in New Zealand, but the entire market is overseas, and it’s a rental model. We never sell anything,” says Stephen. “It shows you can do out of the box stuff from New Zealand, and it works.” Petromac has built its success on exclusive leasing agreements supported by engineering expertise and remote operational support. Stephen says this approach requires exceptional product quality and reliability, as the company retains ongoing responsibility for equipment performance. “This model requires equipment designed to reduce downtime and service needs, while offering clear commercial advantages over competing options,” says Stephen. The audacity of this approach becomes clear when considering the scale of competition. Petromac regularly works with massive multinational corporations, convincing industry giants to adopt new methods. “The companies that operate on drilling rigs are huge, and here we are, a little company from New Zealand, showing there is a better way,” says Stephen. “If you’re diplomatic enough and persistent enough, you can show that trying something new can work.” Stephen credits New Zealand itself as being a crucial part of Petromac’s success, citing four key advantages that make it an ideal base for global manufacturing innovation. Firstly, New Zealand’s well-educated workforce provides the technical expertise essential for developing sophisticated devices. This human capital foundation enables Petromac to maintain its competitive edge through continuous innovation. Secondly, New Zealand’s engineering workshops and foundries are perfectly suited to low-volume, bespoke manufacturing. Where larger countries might dismiss small production runs as commercially unviable, New Zealand companies embrace the challenge. “If I went to the USor China and tried to manufacture what I’m manufacturing here they’d laugh me out the door as the volumes are too small. But in New Zealand, companies will do bespoke stuff and it’s commercially viable. “It’s how they’re geared up – we’re a small country. When we tell them what we are doing, everyone is excited and wants to help. The attitude is good – they are honest and want to help,” Stephen says. The third advantage lies in New Zealand’s streamlined import-export processes. While other countries burden businesses with complex bureaucracy that can delay shipments for weeks, New Zealand’s efficiency is stand-out. “If I try to move a piece out of the USA it’s so much more complex, lots of forms to fill in. It probably takes typically a month to get something moving out of the USA. And most countries in the world are like this. But if I pre-arrange it, from New Zealand, if I can get my part to the airport more than three hours before the plane leaves, it will be on the plane. It’s that good.” Finally, Auckland’s strategic location and frequent flight routes to global destinations enable rapid worldwide deployment. Petromac typically delivers equipment to international customers within 24 to 48 hours, with equally efficient return logistics when equipment requires servicing. Petromac’s technology portfolio has grown eightfold since its inception, driven by ongoing research and development collaboration with global operators. The company is on track to hold over 60 active patents and patent applications by the end of 2025. It has regional managers across all continents to provide market and service support, recognising that its sophisticated equipment requires hands-on guidance in challenging operational environments. Proudly Supporting Petromac Grant Bowring Managing Director - Ph: 09 274 5727 | Mob: 021 955 642 | E: grant@jwb.co.nz | www. jwb.co.nz Product design & Manufacture • Bespoke Precision Engineering • Multi Axis CNC Lathes • CNC Machining 3 4 5 Axis • PET Bottle Tooling Design & Manufacture Each edition priority delivered to your door. E h . www.waterfordpress.co.nz/subscriptions . . . i i 03 983 5500 Stay informed; we work with business owners and decision-makers across all economic sectors, profiling their success. i ; i i i i - ll i , ili i . Your Business, Your Industry, Your News. r i , r I tr , r . businessnorth Despite the challenges of the job, East Coast farmer Toby Williams says rewards are easily found - page 6 Animal welfare at the heart of operation Spring 2020 www.waterfordpress.co.nz Business North Rural
RkJQdWJsaXNoZXIy NDc2Mzg=