Case Study: Shell Deepwater achieves over $1.6 million from surplus OCTG sales with Requis

Shell Deepwater sells surplus OCTG for over $1.6M with Requis

The customer, Shell Deepwater, faced the challenge of urgently disposing of a large surplus of OCTG casing and tubing in Brunei. The inventory lacked necessary certificates, was incurring high storage costs, and its sale was complicated by COVID-19 lockdowns preventing inspections and complex shipping logistics. They partnered with the vendor, Requis, to utilize its online sealed bid platform and marketing services.

Requis implemented a tailored global marketing campaign and managed an online sealed bid event that attracted qualified buyers from six countries. This solution resulted in the entire inventory being sold to a single buyer for over $1.6 million, which was 30% over scrap value. For Shell Deepwater, Requis delivered a high return on investment in a short time frame, eliminated storage costs, and simplified the logistics of the sale.

Shell Deepwater