Bibby Offshore, the leading subsea services provider to the oil and gas industry, has developed an innovative vessel share option for clients, which has the potential to provide the subsea industry with significant savings through encouraging collaboration, cost-efficiencies, as well as providing increased productivity, the company said in its press release.
Unlocking Subsea Productivity (USP) re-evaluates the traditional subsea campaign model, proposing a new alternative structure for how Bibby Offshore delivers services to clients. The concept focuses on a vessel share agreement, with collaboration from several clients, to deliver a single linked campaign workscope that addresses each client’s individual demands.
To demonstrate the real savings available to clients, a simulation campaign was generated using eight previous campaigns completed by Bibby Offshore which were reconstructed and analysed in order to quantitatively demonstrate the potential savings arising from USP. The findings were presented to 18 client representatives from six separate operators at a recent USP event held in Aberdeen.
The simulation model calculated an average saving of £235,000 per client based on an overall project duration of 54 days reducing to 41 days. This resulted in an overall cost saving of over £1.8million to be shared amongst the example clients.