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Petrolog Automation Consulting Project
By: Caitlin Hempstead, Hannah Schuyler, Ryan Thompson, Denis Kraft

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Table of Contents
Overview……………………………………………………………………………………………………………..…………….........3
Readiness Assessment……………………………………………………………………………………………………….........4
Marketing Plan………………………………………………………...……………………………………………………………....6
Supply Chain………………………………………………………...………………………………………………………….….……8
Financial Analysis………………………………………………………...………………………………………………………….10
Implementation………………………………………………………...…………………………………………………….……..13
Lean Experimentation………………………………………………………...…………………………………………………..15
Resources………………………………………………………...……………………………………………………………………..16

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Overview
Petrolog Automation Inc., headquartered in Odessa, Texas, produces and distributes a patented
Pump Off Controller (POC) designed to increase barrel count and optimize oil well efficiency, by
automating the control of the well, which is traditionally done by a timer. The company also
specializes in Remote Monitoring of the product and its effects on production, which can be
monitored through a web-based interface. Petrolog Automation’s solutions allow for increased
production and significant reduction in operational costs.
Though the pump off controllers work on oil wells of all sizes, Petrolog specifically targets
stripper wells (wells approaching the end of production capability) because they “do not
qualify” for traditional pump off controllers, which can be a costly investment for low-
producing wells. The devices are produced in Mexico by DTE Global S.A., Petrolog Automation’s
sister company.
At a recent trade show, ELKAM, a Russian oil production equipment and maintenance provider,
expressed interest in distributing Petrolog’s pump off controller in the Russian marketplace. In
this report, we will:
 Analyze the market for Petrolog’s product viability
 Examine the profitability of a distribution partnership with ELKAM
 Provide recommendations to Petrolog going forward

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Readiness Assessment
Prospective Market Attractiveness Summary
 Industry-agnostic Analysis
o Relatively average competitiveness
 Global Competitiveness ranking: 43/138 (World Economic Forum)
o Extremely poor road infrastructure
 Roads ranking: 123/138
o Extremely poor intellectual property protection, but improving
 IP Protection ranking: 117/138
 Patent application ranking: 43/138
o Economic growth has slowed since oil prices plummeted in 2014
o High government control over strategic industries
 All strategic sectors (including oil) dominated by large enterprises in which
the state owns a majority share
o FDI skyrocketed between 2010-2014, but has plummeted
 Signals low investor confidence in Russian economy
o Tariffs in Russia are relatively high, so imports are low
 Industry Specific Analysis
o High oil production - largest industry in Russia
 Largest producer and reserve of natural gas
 Produces about 11 million barrels of oil per day (12% world total)
o Oil products constitute largest industry and dominant export
 55% exports are oil products
 Russia imports very little
o Oil prices have been declining, so profitability is low
o VIOCs (Vertically Integrated OIl COmpanies) are responsible for 90-95% of oil
production
 These companies are controlled by Russian government
 Oil is seen as a matter of national security
 Client Specific Analysis
o Stripper wells are particularly sensitive to low oil prices
 Low production volume restricts economies of scale
o Poor road quality and Russia’s large landmass would restrict partner’s ability to
distribute product to oil producers
o High government control via VIOCs would require industry expertise and
networking in order to sell devices
o Low IP protection would require extensive measures to prevent competitors from
imitating device design

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The Russian oil industry offers great potential for Petrolog’s product. However, the
characteristics listed above would make market penetration extremely complicated for
Petrolog to perform independently, costing the company time and resources that would be
better allocated in expanding domestically.
Luckily, a partnership with ELKAM would allow Petrolog to leverage their market expertise and
current customer base in order to reduce most of the risk, as this company specializes in oil well
equipment sales and is very familiar with the Russian market.
Overall, we feel as though this is an attractive opportunity for Petrolog to introduce their
product internationally so long as they take extreme caution in legally protecting their
intellectual property through the Russian government. Below, we discuss the specifics of a
partnership with ELKAM.

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Marketing Plan
Mentioned earlier, a partnership with ELKAM would offer many benefits for Petrolog. Our main
goal is to reduce costs, improve efficiency, and increase customer satisfaction in the Russian
market. Although a partnership with ELKAM gives the company full control over marketing to
end-users, we are offering some insightful suggestions.
Product
First, Petrolog will need to make changes to their product to ensure suitability in the Russian
market. Specifically, both the instruction and installation manuals must be translated from
English to Russian. Because Petrolog’s proprietary technology is cloud-based, the translation
effort is both minimal and centralized, making the changes to the Petrolog’s product very
simple. Although this process is not very time consuming, money must be allocated for the
costs of time and price of labor devoted to this product change. Lastly, Petrolog’s domestic
business model includes installation and maintenance services in addition to device sales. This
service has proven to work domestically, but we suggest ELKAM strays away from this element
of Petrolog’s business model due to the fact that oil wells in Russia are in remote, hard to reach
locations.
Because Petrolog’s POCs universally fit all oil wells, no physical modifications are necessary. We
would recommend that ELKAM distribute satisfaction surveys to customers in order to maintain
consistency and ensure quality of the imported devices.
Price
We suggest that Petrolog sells devices to ELKAM at 85% of the domestic sale price. This
distributor profit margin is fairly standard (Gray, 2016), though Petrolog will need to evaluate a
modified cost structure under the new exporting model, which will include the cost of
modifications (discussed above) as well as transportation costs and tariffs.
As with any export, it is important for Petrolog to be aware of the price changes that occur
when entering the Russian market and adapt accordingly. Because the Russian economy has
been declining, we suggest that Petrolog examine the exchange rate at least every three
months and adjust Russian pricing. This practice will stabilize the price of the product in the
Russian market in the short term, as well as ensure profitability in the long term.
Promotion
We are suggesting ELKAM implements a “push” strategy to ensure success for the distributor.
Because it is an unknown market, it is important ELKAM focuses on this push strategy in an
attempt to inform clients of this niche product, rather than using a “pull” strategy, which
focuses on traditional advertising. By establishing a presence at Russian tradeshows, ELKAM will
have the ability to build a powerful platform and to reach out to potential customers. Also,
ELKAM has been a well-established brand for over 20 years and has developed trust and

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credibility, allowing the distributor to highlight Petrolog’s niche product. Trade shows allow
ELKAM to quickly educate a wide base of customers about the benefits of Petrolog’s product.
In addition, we suggest that Petrolog provide an in-depth training program with ELKAM sales
representatives. It is important that the ELKAM staff is knowledgeable about Petrolog’s product
and the installation process. This training program will diminish the chance of implementation
mistakes. It would also allow ELKAM to effectively promote Petrolog’s POCs and inform
potential clients about the specific benefits Petrolog’s devices offer.
Another suggestion for ELKAM is to offer a product demo program to familiarize potential
customers with their products. This tactic is a promotional effort that Petrolog currently is
implementing domestically. Specifically, this entails installing a small number of POCs at no
cost, for up to three months. During the demo period, ELKAM should track any increases in
production to demonstrate the attractive ROI of the devices to clients.
As the final clients will be large companies that own large quantities of wells, we suggest that
the demo time would only be for a couple of wells. Our main goal with the demo trial period is
to show how the product works and the benefits it offers.
In order to maximize ELKAM’s confidence in a mutually beneficial relationship with Petrolog,
the partnership contract should encourage loyalty by including a non-compete clause that
would span a specified period of time.
Place (Channel Strategy)
As mentioned above, it is important to us that our partnership with ELKAM allows us to foster a
relationship that benefits both parties. We want to ensure success for our distributor and
believe these suggestions will ultimately drive the company to prosperity.
Our product will only be available for sale through ELKAM, allowing for us to monitor
performance and reduce complexity. Furthermore, ELKAM will have exclusive distribution rights
to Petrolog’s product.

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Supply Chain
Ideally, Petrolog should be able to establish Free On-Board (FOB) Mexico terms in a contract
with distributor ELKAM. In this scenario, liability of the product shipment would be transferred
from sister company DTE (manufacturer in Mexico) to ELKAM upon departing the shipping dock
in Mexico. These terms would leave Petrolog with very minimal supply chain logistics to handle
and consequently very little risk. However, FOB terms are difficult to negotiate, and Petrolog
should be prepared for the possibility of managing transportation from Mexico to Russia.
In order to successfully export a product to Russia, there are a number of logistical issues to be
considered. For example, our product must be in compliance with the Customs Union Technical
Regulations for the Eurasian Economic Union, which Russia belongs to. In addition, Petrolog
would need to prepare trade documents such as a bill of lading, commercial invoice and
country of origin.
(Exporting markets - Russia).
International Freight Forwarder
Because Petrolog has limited resources and knowledge of the Russian market, our first
recommendation is for them to find an international freight forwarding company that will
transport their devices by sea freight from the manufacturing plant in Mexico. Benefits of
partnering with a freight forwarder (FF) include:
 FF will assume liability for products during transportation (contract would ideally specify
FOB Mexico)
 FF will manage tariffs upon arrival at port in Russia
 FF can also assist with letters of credit for payments from ELKAM if necessary
Kuehne + Nagel
Should Petrolog decide to enlist the help of an international freight forwarder, we would
recommend that they consider Kuehne + Nagel, a Fortune 500 company and leader in logistical
solutions. The following factors were considered in selecting this freight forwarder for Petrolog:
 Less than Container Load (LCL) option. This service would afford Petrolog the flexibility
of sending small batches of devices to Russia without the expense of shipping a full
container. LCL may prove to be strategic should Petrolog send a preliminary batch of
devices as complimentary samples to ELKAM, which we outline in the Marketing Plan
segment of this report. Currently, Petrolog’s largest customer owns only 90 POCs, while
83% of their customers own 20 POCs or less (Petrolog Business Plan). Ideally, ELKAM
would eventually establish sizeable customers in the Russian market to allow for large,
full-container sized orders from DTE in Mexico.

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 KN Login. This web-based data management tool offers clients the ability to track and
monitor their shipments between ports.
 Excellent reputation. With over 120 years in operation, Kuehne + Nagel is one of the
leaders in sea freight shipping worldwide. As Petrolog attempts to penetrate the Russian
market, it will be important to have the utmost credibility across all aspects of the
supply chain.
 Cargo Insurance
o Cargo insurance and risk management services are available to Kuehne + Nagel
clients through Nacora, an affiliated Insurance Broker. Though Petrolog devices
are of relatively low value, insurance would protect the small company from
potentially detrimental losses.
(KN LC)
Our group reached out to Kuehne + Nagel with a request for a quote, but did not hear back
from a representative. We do understand that in some situations, industry leaders with
excellent reputations like that of Kuehne + Nagel may not offer the most competitive prices.
Lynden International
In the case that Kuehne + Nagel’s services are out of price range for Petrolog, we investigated
an alternative company for freight forwarding services, Lynden International. We believe that
the following factors would enable Lynden to provide the services needed by Petrolog:
 Operates “company-owned service centers in Moscow and Yuzhno-Sakhalinsk”
 Offers extensive knowledge of “Russia’s business practices and government
regulations”.
 Twenty years of experience doing business in Russia.
 Offer Delivered Duty Paid (DDP) services “to any point in Russia” from the U.S. and
Mexico.
 Freight is consolidated in Houston which serves as a convenient point of contact for
Petrolog, which is headquartered in Texas.
(DDP Russia Service)

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Financial Analysis
ROI Model
There are several variables to take into account when performing the financial analysis of the
market entry in Russia. In this analysis, we will focus on the key variables that would shift the
viability of Petrolog’s entry into Russia and examine the effects that exporting will have on
Petrolog’s financial model.
First of all, there are additional costs related to the exportation of the Petrolog device to Russia,
such as:
 Transportation costs. The devices would have to be produced in Mexico by DTE and
shipped overseas to Russia, so transportation costs would increase significantly.
Furthermore, using an IFF as intermediary induces additional costs as well.
 Margin edits. Distributors typically charge a 10-15% margin on products sold by them,
and this will reduce Petrolog’s margin.
 VAT Tax. Additionally, VAT tax in Russia is 18%, compared to the Texas Sales Tax of
8.25%. This increases the cost of the product by 9.75% initially.
 Tariffs. Finally, foreign products imported to Russia are subject to a customs tariff. The
average tariff for Russian imports is 8.1%, but the exact amount depends on the nature
of the product. The IFF can help Petrolog in finding the exact tariff for their products.
On the other hand, Petrolog’s installation and maintenance costs will be drastically reduced
when exporting in Russia, as those services will be provided by ELKAM.
Secondly, it is important to note that the Russian Ruble has experienced a severe downfall in
the last three years (see figure below).
RUB/USD exchange rate (XE.com)

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To arrive at the same amount of US dollars, a Russian consumer would have to spend almost
twice as many Rubles today than in January 2014. Naturally, this is harmful for any company
wanting to export products to Russia and should be monitored closely. Going forward, Petrolog
should examine the price of the device every couple of months, depending on the evolution of
exchange rates (see Marketing Plan).
Similarly, crude oil barrel prices have fallen by about 50% in the past three years (NASDAQ: see
below), which has lowered oil companies’ margin. This is especially harmful for stripper well
operators, as their smaller production quantities limit economies of scale and leaves a slimmer
profit margin. Stripper well owners can’t compensate by selling at higher prices due to the
commodity nature of oil. Some experts argue that 50% of the American stripper wells would be
forced to shut down if oil prices would fall below $40 per barrel (Cunningham). We weren’t able
to find specific information about the situation of Russian wells, but it is likely that their
profitability margins are similar.
Crude Oil Price in USD (source: nasdaq.com)
While all of the elements presented above seem to be working against Petrolog’s market entry
in Russia, there are some factors that encourage Petrolog’s market entry in Russia, which we
will examine below.
 Size, Growth and Structure of the market. The size and the future growth opportunities
in the Russian oil market make it quite attractive (see Market Readiness part).
Furthermore, stripper wells are responsible for a significant proportion of the Russian oil
production. We were unable to find specific data, but a Russian website states that 50%
of the wells owned by Bashneft (one of the VIOC’s) are stripper wells (Great
Encyclopedia of Oil & Gas). Overall, the large size of the players in this market (i.e., the
VIOC’s) makes it possible for a company like Petrolog to achieve high sales in Russia by
having a couple of large customers.
 Adjustments. The ability to reach at least one of these large customers through the
distributor is key. We lack specific information about Petrolog’s internal costs and

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margins, and the fee required by the selected International Freight Forwarder. However,
it is highly recommended that Petrolog calculate the specific number of devices that
need to be sold to justify this international venture. Petrolog should consider the
recommended pricing adjustments and other financial factors mentioned above in
calculation of their break-even point for this venture.
 Diversification. Furthermore, being active in multiple parts of the world is a good way to
diversify risk associated with one specific region.
Therefore, Petrolog’s financial success in this market will have some dependence on external
variables such as the evolution of oil prices and RUB/USD exchange rates. But the possibility of
their success depends mainly on two internal factors - the quality of the relationship with their
partner ELKAM and their ability to reach a sufficient number of Russian stripper wells.
This partner has working relationships with large Russian oil companies, so they will serve as an
intermediary to enable Petrolog devices to be sold and installed on Russian wells. Using ELKAM
as an international intermediary is also a great way to limit the required investment for
Petrolog, as this partner will be bearing most of the risk associated with the market entry.
Petrolog’s investment in exporting to Russia will mostly take two forms:
 Human and financial resources required for: the research and preparation finding a
freight forwarder, adaptation of the product for the Russian market, the production and
shipment of initial no-cost samples, and the training and education of ELKAM team.
 Liquidity required for the new working capital model, explained in the next section.
Working Capital Model
Using ELKAM as a distribution partner for the Russian partner changes Petrolog’s cash-to-cash
cycle significantly. Instead of warehousing devices and installing them quickly once an order is
placed (like Petrolog currently does in Texas), the company will only start producing the devices
in large numbers as soon as an order is put in by the Russian distributor. Once the production
stage is over, the equipment will be shipped to Russia in order to be installed by ELKAM. Full
payment will likely be received once all the devices have arrived to the distributor.
This whole process requires much more working capital, as there will be a longer delay
between the moment when an order is placed and the moment when it is entirely paid for. This
increased need for working capital will have to be financed accordingly, either through
Petrolog’s own resources or thanks to financing intermediaries, such as:
 The International Freight Forwarding Company, that is likely to be able to help with
letters of credit between Petrolog and ELKAM;
 The Export-Import (EXIM) bank of the United States, that can provides a Working Capital
Loan for overseas exports (EXIM).
It may also be possible to lower this required working capital by requesting payment terms that
include an initial deposit by ELKAM.

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Implementation
To implement our export strategy in Russia, our client should follow an indirect method of
exporting, utilizing an intermediary already located in Russia to distribute our product to the
final customer. Our client has been in contact with ELKAM, a large manufacturer and supplier of
oil well equipment throughout Russia and CIS countries. Since the Russian oil & gas industry is
highly concentrated on a small number of government firms, the success of Petrolog in Russia is
highly dependent on obtaining one of these firms as a customer. ELKAM already sells their
products to these customers, and would be able to add Petrolog’s controller to their product
line of oil well equipment. This would be a mutually beneficial experience, as this would allow
Petrolog to bypass the typically long sales process that comes with becoming a supplier to a
large government-controlled firm.
To ensure our product shipments securely arrive at ELKAM’s specified location with all
documentation correctly completed, we recommend the use of an International Freight
Forwarder. We examined two specific companies to utilize as a freight forwarder in the Supply
Chain section above. Petrolog should request a quote from both companies, and examine
which option is financially viable for them, keeping in mind the importance of this decision with
regard to Petrolog’s international future.
To improve their chances of success when exporting to Russia, Petrolog should take extreme
care when negotiating the terms of the partnership with prospective partner ELKAM. Petrolog
should strongly consider specific terms and our recommendations of how to approach them,
such as:
 Margin Stack. Petrolog should ensure that the profits are split fairly, and should expect
for ELKAM to require about a 15% profit margin of the final sales price for their services.
While this may seem drastic, the vast increase in units sold and customer base will
generate a significant return. The selling price will have to be slightly raised (compared
to US price) to account for the factors mentioned above.
 Marketing Rights. Petrolog should understand that there is little reason that paid
advertising should be necessary for their product. However, the company should be
willing to hand over marketing rights to ELKAM in order to best localize their sales
strategy to the Russian market.
 Product Adaptations. Petrolog should handle all adaptations to its user interface and
instruction manual in-house. They should allow ELKAM to produce localized marketing
materials and suggest adaptations that would make the product more suitable for
Russia. They should not allow ELKAM to tamper with the underlying software or
technology.
 After-Sales Service. Petrolog should make ELKAM aware of its current after-sales
service, being as transparent as possible in all aspects. However, Petrolog should not
commit to any obligations to fulfill an after-sales service with its existing resources. The
vast land mass, and relatively poor infrastructure will make the after-sales service model
that Petrolog currently has in place much more difficult and expensive to maintain.
Petrolog should provide available information on their current after-sales operations,

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and allow ELKAM to perform its proper research and make an independent decision to if
it should continue the service or not.
 Returns and Exiting the Partnership. Petrolog should negotiate terms that allow for no
returns of product unless they are defective. Ensure there are measures included that
allow for Petrolog to exit the partnership in the case of an unfortunate event.
 Payment terms. If ELKAM is unwilling to provide cash in advance, Petrolog should
require a deposit on any large order. Cash in advance is a risky payment agreement on
the part of the buyer. Because there will be transportation risk involved, it is unlikely
that ELKAM would be willing to pay for the devices entirely upfront. Our
recommendation to Petrolog is to establish payment terms that include an initial
deposit and full payment upon delivery. If Petrolog should require additional financing
to fulfil an order, the company should inquire its chosen International Freight Forwarder
or the United States’ Export-Import Bank, which can assist with temporary financing.
 Incoterms. Petrolog should try to negotiate FOB terms. If ELKAM, is unwilling to provide
FOB terms, Petrolog should request CIF terms. This is most likely the INCOTERM that will
be established between Petrolog and ELKAM, as FOB terms are unfavorable and risky for
the buyer. Under these conditions, Petrolog would be responsible for the cost of freight
and insurance to transport the goods to the named port of destination. Once the
product has arrive to ELKAM, the liability will transfer to ELKAM.
Given the consolidated nature of the industry, we recommend that Petrolog provides 50-100
units initially, to give 5-10 samples to each prospective client, in order to test the market
demand. If the market experimentation is successful, Petrolog should provide further inventory
at the discretion of ELKAM, but preferably on a per-order basis. Since Petrolog’s product is a
capital expenditure, the large companies will likely take a considerable amount of time before
placing their order. ELKAM should stay in contact with Petrolog on prospective clients and
estimated timelines in order for Petrolog to have the inventory on hand in a timely manner.
The most important factor for Petrolog is the quality of the relationship with its distribution
partner ELKAM. Petrolog should exercise extreme caution when interacting, and ensure that
ELKAM is being transparent and fair throughout the business relationship and negotiations.
Petrolog should ensure that ELKAM is willing to make a commitment to ensure the success of
Petrolog’s product in Russia, and be open and responsive to the intermediary’s needs and
requests. Overall, Petrolog should defer to the market knowledge of ELKAM, as Petrolog has
little international experience and none in the Russian market thus far.
Another key factor is the US Government’s relations with Russia. Petrolog should keep close
watch over the events and potential policy changes that could affect their business, arising
from the relationship between the two countries. For example, there is a very strong possibility
that tariffs could rise.
There are a number of key expenses to take into consideration, including shipping costs, the
tariff, tax differences, translation resources, negotiation time, among others. These are all
mentioned in further detail throughout the report.

15. 15
Lean Experimentation
Since the Russian economy, and specifically the oil industry in Russia are in a down time, the
companies will be less willing to spend money on capital expenditure (such as Petrolog’s
product). While our product does provide a relatively quick ROI, it should be noted that given
the state of the industry, target clients likely won’t have much room in their budget for a
product such as Petrolog’s.
Therefore, given the inherent risks and in order to avoid a large share of the risk that
accompanies entering an international market, Petrolog should follow the “lean” methodology
of testing a hypothesis within the market before devoting significant resources to the project..
These are significant factors that went into Our hypothesis is: the Russian oil & gas industry is
viable market for Petrolog’s POC-G2 controller.
The main experiment we recommend are samples, or surveys. We believe that providing a
small number of samples of the product to target customers, then following up and presenting
the results of how our product has helped some months later, would be the best way to enter
the market. However, we were not provided sufficient data to calculate how long or how many
units would be needed to provide significant return, and if our client has the resources to be
able to provide such products at no cost.
Therefore, we suggest that ELKAM contact each target customer, and present the benefits of
Petrolog’s product, and which wells it would benefit most, in a fitting manner. It should provide
data relevant to each key decision maker within the company, and perhaps even provide an
interactive calculator. The calculator would ask for the number of wells applied, have preset
options of 5, 10, 20 years and then display the revenue saved or earned due to Petrolog’s
product. The content should be followed with a short survey.
o The survey should ask:
 If they would be interested in receiving samples of the product
 How many wells they think their company could apply this product to
 Contact information
ELKAM should then follow up with the respondents, providing a presentation in-person with a
more customized approach to how their company could benefit. ELKAM should ask the client to
gauge their purchase timeline and size of order and relay that information to Petrolog in a
timely manner, before any order is made. Petrolog should then evaluate the opportunity and
any suggestions made by ELKAM, and if interest is great enough, proceed to follow the
necessary steps to fulfill the order.

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Resources
"KN LCL." Kuehne + Nagel. N.p., n.d. Web. 02 Dec. 2016.
"DDP Russia Service, Door-to-Door Shipping to Russia | Lynden International." Lynden
International. N.p., n.d. Web. 02 Dec. 2016.
Petrolog Business Plan
Cunningham, Nick. "Production From Stripper Wells at Risk in Current Price Environment." The
Fuse. The Fuse, 06 Jan. 2016. Web. 04 Dec. 2016.
"Commodities: Latest Crude Oil Price & Chart." NASDAQ.com. N.p., n.d. Web. 30 Nov. 2016.
"Большая Энциклопедия Нефти и Газа." (Translated as “Great Encyclopedia of Oil and Gas.”)
Малодебитные скважины составляют значительную часть фонда насосных скважин.
(Translated as Marginal wells account for a significant part of the fund of pumping wells.) N.p.,
n.d. Web. 01 Dec. 2016
"XE Currency Charts: RUB to USD." XE. N.p., n.d. Web. 30 Nov. 2016.
“Types of Exporting” Powerpoint - Alex Gabbi
"Export Markets - Russia." Doing Business - Tariffs and Regulations – Russia – For Australian
Exporters - Austrade. Australian Trade and Investment Commission, n.d. Web. 04 Dec. 2016.
Gray, Thomas H. "Reasonable Markup to Distributors." Thomas H. Gray, Profit Spotter. N.p.,
2016. Web. 04 Dec. 2016.
"What We Do - Get Financing." Export-Import Bank of the United States. N.p., n.d. Web. 04 Dec.
2016.