STRATEGIC MARKETING ANALYSIS FOR ENTERING A NEW MARKET WITH AN INNOVATIVE TECHNOLOGY IN THE DRILLING INDUSTRY

Entering the Managed Pressure Drilling (MPD) market with an innovative Continuous Circulation System (CCS) creates a beneficial business unit to the company Drillmec S.p.A. Choosing a proper market entry strategy ensures to obtain great future profit from the newly started CCS project established by Drillmec S.p.A. The purpose of this thesis is to analyze MPD market for entering and to give right suggestions to the managers of Drillmec S.p.A to apply the strategy planning process of the CCS project. Studying the terms of drilling industry, contractual communication of main players and investigating MPD market due to the region, technology, using tools and application are presented for better understanding the market. Internal analysis of the company shows the features of Drillmecs CCS, its advantages, applying tools and the competence of the company to implement chosen strategy. Collaboration with MPD service provider companies, drilling contractors and major oil companies was found the most proper strategy that Drillmec S.p.A can execute its CCS business unit with partnering one of these companies or doing one by one. This study definitively answers the question how can enter the MPD market with CCS technology and what type of collaborations may apply to the chosen partner. Further studies are needed to accomplish the suggested strategy after choosing the right partner. Keywords: managed pressure drilling, continuous circulating system, market entry, collaboration