For a Middle Eastern management consulting firm

Business need

  • The client was contracted to build a financial model for a new company to be owned by the government and affiliated with Saudi Geological Survey (SGS) which is responsible for all specialised earth science works in Saudi Arabia.
  • To create a financially sustainable company in the mining industry, while localising technologies, the client was looking for a macro analysis of geological services.
  • It wanted to gather international benchmarks of income from similar services, study similar public entities operating globally and assess their financial budgets.

To study and benchmark geological services in order to create a new entity affiliated with SGS.

The client outlined two key reasons for selecting RocSearch:

  • Our ability to rapidly deploy customised teams with the necessary skills
  • Our proven benchmarking capabilities and flexible client-centric engagement models

Approach and Methodology

  • Our strategic advisory team assessed the market opportunity for traditional services (sold by SGS), mapped into the four following categories: geophysical, geotechnical, geochemical and geohazards.
  • We leveraged a combination of sources including subscribed databases, industry associations/ conferences, news portals, syndicated reports, company websites, and conducted a comprehensive keyword search.

We consulted several experts to rank the top 50 services shared by the client and identified the top 10 services that accounted for c. 80% of the overall industry revenue.

  • We gathered insights on the average pricing and transaction value of these top services in different sectors, with a focus on mining, infrastructure and the public sector.
  • We benchmarked competitors offering geological services in the Kingdom of Saudi Arabia, based on key service types and the end markets catered (mining and infrastructure), operational presence, recently completed/planned projects and licences won.
  • We listed 50+ companies providing core geological services (to be offered by the new company), such as geology & mine planning software, artificial-intelligence-based software platforms, virtual reality/ augmented reality visualisation platforms, geospatial analytics, e-learning platforms and consulting.
  • We profiled these companies covering core service portfolios, growth indicators, focus customer industries, key customers, customer cases, and companies’ financials amongst others.
  • We shared perspectives on Industry dynamics covering the global/regional geological and related markets, key trends and drivers showcasing growth of core services in the international markets and various related themes.
  • We assessed similar global public entities, their operating/business models, implementation steps, expenditures and risks associated with the implementation of artificial intelligence systems.

Business outcomes

  • Insights on opportunities in the geological services market – traditional as well as core services
  • Benchmarking analysis which helped the client with key considerations/focus areas based on market potential, top services, key developments and application industries
  • Findings used as a basis for building the client’s financial model

The international benchmarks of global public entities enabled the client to derive best practices and plan its finances for the implementation phase.


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