New technologies allow the offshore oil industry to drill deeper and explore new oil reserves; specialized expertise is sometimes needed to ensure that technology is effectively utilized from a business perspective.
Maritime Management Consulting has studied this segment over the past few years and has provided advice to owners, operators and financiers of offshore oil equipment.
Our experience with Offshore Vessels includes:
- FPSO construction cost and schedule estimates
- FPSO procurement strategy
- Oil rig valuations
- Offshore construction due diligence
- Offshore support vessels technical studies
Client Work and Other Experience
- Offshore Industry Evaluation: For a division of one of the world's largest defense contractors, MMC analyzed the potential for entry into the Offshore Oil Industry. Through primary and secondary research, the market opportunity was sized and matched to the client's core competencies. A strategy for entry into the market and an implementation plan were developed with supporting value propositions and pro-forma financial projections. Using the research and analysis, MMC facilitated a strategic planning conference with client personnel to evaluate the market entry plan. The client ultimately decided not to invest in the Offshore Industry, acknowledging that our work had saved them considerable wasted time and dollars.
- FPSO Construction: Based on a preliminary design and specification, MMC estimated the cost of design and construction for a very large spread-moored FPSO barge hull and accommodations module. Price sensitivity was analyzed for exchange rates, labor rates and productivity. Costs were compared to a VLCC, with explanations in the difference in work scope by specific cost element. Design, construction, testing, and master project schedules were developed based on best practices in the Far East. Suggestions were provided to improve producibility.
- Multi-Function Barge Construction: Using a conceptual design for a combined FPSO and drilling platform, MMC prepared a parametric cost estimate for a very large spread-moored barge hull and accommodations module. Price sensitivity was analyzed for exchange rates, labor rates and productivity. Schedules were developed based on best practices in the Far East.
- Drilling Rig Value: Working for a potential lender for a new construction project, MMC established the future value of a new drilling platform design at the end of the initial drilling lease. Research identified historical values for rigs based on age. These values were adjusted for rig performance features, location, and initial price. Demand trends for this specific rig type were identified, and areas of possible future employment were discussed. MMC also reviewed possible building sites as part of due diligence for the lender.