Bibby Offshore Proposes New Work Model for Subsea Industry

Subsea services player, Bibby Offshore, said it has developed an innovative vessel share option for clients.

According to the company, it has the potential to provide the subsea industry with significant savings through encouraging collaboration, cost-efficiencies, as well as providing increased productivity.

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.

The USP

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.

Reportedly, 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. According to Bibby, this resulted in an overall cost saving of over £1.8million to be shared amongst the example clients.

Vikki Thom, subsea business manager at Bibby Offshore said: “USP was developed with our client’s needs and the future of the industry in mind. The model is aimed at reducing the costs associated with mobilisation 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.

“With the industry currently facing unprecedented challenges due to the continued low commodity price, the future of the North Sea is more testing than ever. The USP proposal provides an efficient model for a cohesive approach to project delivery and provides a viable alternative to deferring work schedules. This demonstrates that we, as an organisation, are doing everything we can to support a more sustainable future for the UKCS Subsea Industry.”

Share this article

Follow Subsea World News

Events>

<< Oct 2017 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

BLACK SEA OIL AND GAS

Black Sea region continues to impose as a key area for the future of energy in Europe in reaching the diversification of supply and the energy…

read more >

SUBSEA POWER CABLES

2-day seminar covering best practice and emerging technologies for cost-efficient subsea cable projects from conception to installation…

read more >

24th Annual Africa Oil Week 2017

The Conference portraying five days of senior-level executive insights, with rich-content on corporate strategies and portfolio, exposure…

read more >

OTC Brasil 2017

OTC Brasil is organized by the Offshore Technology Conference (OTC) and Brazilian Petroleum, Gas and Biofuels Institute (IBP)…

read more >