Oil and Gas is one of the biggest industries globally. There are three key areas within the oil and gas market: upstream, midstream and downstream. Upstream focuses on the search and exploration of oil and gas fields underground or underwater. It also involves drilling the gas or crude oil out of these fields. Midstream deals with oil and gas transportation, storing and processing. Finally, downstream refers to refining crude oil and purifying natural gas. This is the distributed commercially in different forms such as lubricants, petrol, heating oil and diesel.
There is a huge range of equipment and supplies utilised in the oil and gas market. Fairwayrock specialises in relatively low-cost oil and gas supplies and consumables. Oilfield consumable products include supplies such as gaskets, valves, calibration gases, gas detectors and monitors, and hoses. These are often useful for maintenance of plant, components and machinery as well as adjustment. This will aid the functioning and activities of larger, critical machinery used in the oil and gas industry.
The market for consumables in oil and gas has widened and increased as many industry companies have explored new ventures. For example, many have added activities such as aerospace, automotive, renewables and construction to their portfolio. There is also a steadily increasing demand for energy on a global scale.
One of the main issues with oil and gas equipment is the procurement processes which has traditionally been dominated by a few major industry players. This has led to massive costs and lengthy processes, resulting in large scale accumulated waste for companies. It also makes it hard for new suppliers and manufacturers to enter the market. Fairwayrock is a more transparent procurement process for companies, providing a convenient marketplace for purchasing oil and gas consumables which rids the market of these excessive costs and processes.