Neil Gordon, Chief Executive of Subsea UK, highlights the need for a cohesive approach and smarter ways of working in the subsea sector…
As the focal point for the subsea sector in the United Kingdom, the industry association Subsea UK has set itself the goal of increasing business opportunities in the North Sea as well as further afield. Pioneering activity on the UK continental shelf (UKCS) has ensured a strong base for skills and expertise in the country, but how is the industry adapting to cope with current challenges? Adjacent Oil & Gas asked Neil Gordon, Chief Executive of industry representative body, Subsea UK…
Are there any notable new subsea technologies available or in development that are expected to deliver cost-savings and efficiencies?
Companies are becoming much more receptive to new techniques and innovations that enhance performance and offer significant cost savings.
However, with fewer discoveries and ageing fields, there should be a focus on working with existing assets to extend life-of-field without running up unnecessary high costs. Operators could improve production by using existing, less mainstream technologies that can be readily implemented to enhance and upgrade ageing subsea systems.
Devising smarter ways of applying these technologies can also reduce inefficiencies and counter the tendency toward over engineering.
This doesn’t mean that new technologies are no longer needed. In order to extract higher yields from our existing assets and to do that viably we need to develop new technology and smarter integrity solutions that keep these ageing assets healthy.
Companies need to invest wisely in the current market and focus on developing technology that will deliver efficiencies and add real value to the industry.
An example of the type of innovation needed is in condition based monitoring; specifically, tools which can monitor the health and integrity of subsea systems and calculate when they require attention, instead of carrying out regular and costly inspection campaigns. This allows operators to carry out planned, risk-based maintenance and repair programmes as and when required, rather than reacting when something reaches a critical state, which can lead to unplanned interventions and higher costs.
One company recently launched an innovative vessel share option for its clients, which has the potential to provide the subsea industry with significant savings through encouraging collaboration, cost efficiencies, and ultimately increased productivity. 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.
The model is aimed at reducing the costs associated with mobilisation and demobilisation periods whilst also distributing further cost savings for individual clients, helping to ensure a reduction in non-productive time and an increase in overall work time – a cohesive approach to project delivery.
We need the industry to get on board and continue to implement these types of innovations and ways of working if we are to come out of the current downturn stronger.
How can the UK adapt its subsea supply chain operations in order to weather the current downturn?
It’s true that the cyclical nature of our industry means that we have been here before, but this time there are some significant differences which raise the question of whether the current price slump is just another in a long history of downward cycles, from which the industry will emerge victoriously, or a sign of more deeply troubled times ahead. One thing we have learned from previous oil price declines is that we can’t predict the price of crude and therefore we must prepare for all eventualities.
If we change our behaviours and our approach now, in time, we will be much better positioned for a sustainable future.
The focus must be on collaboration and co-operation in a major drive to improve efficiencies and find better ways of working. However, collaboration and cooperation must be a two-way street, every part of the supply chain must appreciate and understand the objective of the other and work in a way that is aligned to help achieve those solutions.
Companies really need to engage with their clients and work with them to understand their challenges, looking at how they can support and add value to their operations. They need to take a step back and review their approach, question how they can simplify their offerings and deliver efficiencies. Those who do make the fundamental changes will be the ones who come out in better shape when the oil price begins to pick up.
There are real, long-term prospects for the subsea sector and it’s vital that we are well positioned to exploit these opportunities – this is our time to demonstrate the UK industry’s pioneering attitude and ingenuity for which we are renowned for across the world.
What are the opportunities that exist for UK firms in terms of inspection, repair and maintenance work, and in decommissioning applications?
Industry is finding it difficult to develop new fields in the current climate, so we need to look at how we can get the most value out of existing infrastructure. Implementing smart IRM programmes is just one way the industry can improve subsea integrity in the North Sea.
As margins get squeezed further, operators are looking at more innovative integrity management solutions, which presents opportunities for service companies to step up to the plate and come forward with solutions which will help add value and efficiencies and further extend the life of the field.
Decommissioning activity and spend are due to ramp up over the next five years, as mature fields reach their end-of-life and cease production. Again, this offers a significant opportunity for the UK supply chain to develop the skills, technology and expertise needed to undertake decommissioning projects in an environmentally sound, safe and cost-effective manner. This will also give the UK a great advantage when bidding for decommissioning work overseas.
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