US driller Nabors Industries is selling off drilling assets it had working in Ecuador as the company faces competition from Chinese players.
Ecuador-based subsidiary Nabors Drilling is selling off a land rig as well as workover rigs, drill piping and drilling tools, according to an advertisement placed by the company. Independent rig data produced by Ecuador-based consultant Jorge Rosas Williams shows that Chinese companies such as CCDC, Hilong and Sinopec have become the dominant players in Ecuador’s oil sector, typically offering smaller rigs than the one on offer by Nabors, and at lower dayrates.
