A private equity firm considering an investment in an Iraqi oilfield services company hired Ergo to conduct comprehensive, rapid diligence on the company and the oilfield services market in both the Kurdish and non-Kurdish areas of Iraq. Our client wanted its investment decision to be informed by local insights into the company, and to be understood in the context of Iraq's rapidly shifting political and economic landscape.

Ergo devised a three-pronged solution. First, our Kurdistan- and Baghdad-based in-country teams extracted primary insights from 60 experts with intimate knowledge of oilfield services in Iraq, including Iraqi and Kurdish government officials, customers, competitors, and suppliers of the target company, local legal and regulatory experts, and leading oil industry analysts and consultants. Second, several of our in-country teams collected and analyzed data that could only be obtained on the ground. Third, Ergo team members, working in Arabic, traveled to Iraq to interview key company personnel, conduct oilfield site visits and verify assets, and meet with a range of important stakeholders.

Ergo presented a multi-layered deliverable that included a thorough micro analysis of the company and its competitive positioning (including recommendations for the future), as well as a macro assessment of the broader factors affecting the local market landscape for oilfield services. Our client was able to make an informed investment decision based on a comprehensive understanding of regulation and government policies, implications of political alliances and rifts, competitive dynamics in the oilfield services market, and future growth opportunities.