NORTH SEA RIGS

NORTH SEA RIGS

Facing industry challenges with three new rigs

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VALUE CREATION Boosting

in the Norwegian Offshore Sector

Customised for the mid-water segment, North Sea Rigs’ three new rigs promise to provide an efficient and cost-effective solution to the development, maintenance and drilling of future wells Writer: Morten Helliesen, Media Advisor, North Sea Rigs Project Manager: Josh Hyland

IMAGE BY: ROLF ESTENSEN

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emanding times in the petroleum sector have brought challenges, not least in the rig industry where scheduled projects have high capacity and complexity. Moreover, the industry is suffering from aging equipment that no longer meets the demands and requirements of offshore oil companies who are looking for a high level of efficiency and safety, while ensuring maximum uptime at a competitive cost.

North Sea Rigs is facing these challenges head-on with three new rigs soon to be introduced to the market.

Optimised for the mid-water segment, the North Dragon, Beacon Atlantic and Beacon Pacific rigs are suitable for the development, maintenance and drilling of new wells in the Norwegian offshore sector; as well as other strategic offshore oil hubs globally.

The Company’s new rigs have arrived just in time to answer the industry needs, accompanied by state-of-theart facilities to ensure operations are efficient and cost-effective.

“Despite the market situation, the offshore industry still offers multiple opportunities. A high number of new wells are needed to drill proven petroleum reserves, in addition to wells designed to ensure enhanced recovery of already existing fields.

From this perspective, the new rigs are a key tool in order to achieve maximum value creation on the Norwegian Continental shelf (NCS),” says North Sea Rigs’ Managing Director (MD), Stephen Adshead.

With the goal to make offshore projects as robust as possible for decades to come in a bid to futureproof both the Company and industry practices, North Sea Rigs is working closely with oil companies to meet their exacting requirements and wishes; including coordinating on the rig design as much as possible.

“We are focused on delivering the

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most suitable rigs in the market; rigs with customised drilling facilities, hull, size and motion characteristics; providing efficiency and versatility to offshore operations. In short, a total service solution that makes for an adaptable rig,” says Adshead.

Chair of the Board, Heidi Baugstø further emphasises: “We are confident that the Company’s new rigs encompass the technology, efficiency, safety and cost-competitive factors that oil companies require in the long-term.”

Replacing old rigs

It is a known fact that many aging oil rigs operating in the Norwegian offshore market – as well as other global refining hotspots – are approaching the end of their life.

Adshead offers: “If we are to succeed in extending the lifetime of mature fields, we need to react appropriately and direct more attention to longterm considerations, such as efficiency and costs. The new rigs address this concern.”

Having already completed and christened the first of its three new rigs, North Dragon, in November, 2015 – which went on to complete a successful drilling trial earlier this year – North Sea rigs has focused its attentions on the completion of Beacon Atlantic and Beacon Pacific; due for completion at the end of 2017. The rigs are currently under construction at CIMC Yantai Raffles Offshore Shipyard in China, a leading North Sea Rigs stakeholder.

One of China’s largest offshore yards, Yantai Raffles specialises in semi-submersible rigs, jack up-rigs and specialised vessels for offshore operations, and since 2001, has delivered a large number of ships and offshore installations for customers and projects worldwide.

“CIMC Capital is a leading player working closely with many international businesses and has a workforce of 60,000, who operate across its strategic global locations. The Company

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RIG FACTS

Heidi Baugstø, Chair of the Board and Stephen Adshead, MD

North Dragon, Beacon Atlantic and Beacon Pacific are classified as belonging to the sixth generation DP3 and moored harsh environmental units, which are winterised and capable of year-round drilling, completion and intervention work; with full-bore 18¾ inch BOP rated 15,000 psi. Water depth range is usually between 100 to 500 metres, but this can be extended with some adjustments to the BOP and riser system, and drilling depth is 8,000 metres Emphasis has been placed on the design of the Company’s newbuilding drilling rigs to provide a cost-effective and reliable tool for the operator, with minimum weather downtime and reduced time spent on the critical pipe handling processes GM4-D series of rigs are designed to meet the requirements for medium sized, mid-water drilling rigs; primarily designed for servicing mature fields on the Norwegian Continental Shelf

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Serving the marine market Today the Rolls-Royce marine product range is one of the broadest in the world. 70 of the world’s maritime forces and over 30,000 commercial vessels use our equipment.

Proud to be associated with North Sea Rigs.

Rolls-Royce.com

The Beacon Atlantic and Beacon Pacific are due for completion at the end of 2017

continues to strongly support North Sea Rigs’ development and is a proud stakeholder. A strong partnership on the owner side is reassuring, particularly in times when the market is demanding change,” the MD details.

The same strong commitment is felt throughout North Sea Rigs’ longstanding partnerships, especially those involved in the rigs’ technological solutions; which bear the mark of Norwegian and international knowhow and experience. “Dynamic positioning equipment is supplied by Kongsberg, while Siemens is responsible for the electrical installations onboard. Engines and winches come from Rolls-Royce, while National Oilwell Varco is behind the drilling package,” he adds.

Long-term perspective

Leveraging a team of specialist experts and industry knowhow, North Sea Rigs’ latest newbuilding drilling rigs are testament to the Company’s

Trusted to deliver excellence

equipment and technology – all without sacrificing quality.

“Even though exact figures cannot be stated at this point, we believe that adopting such modern rigs as these may lead to a 20-25 percent cost reduction in some areas,” Adshead emphasises.

Thanks to proactive marketing efforts in the local Norwegian offshore and international markets – despite the current market challenges – North Sea Rigs’ management is taking a positive view of winning contracts for the new NSR management with senior management rigs. representatives from main partners during the naming “In times like these, the ability ceremony of the North Dragon and willingness to think long-term is particularly important. It goes continuous improvement and without saying that being backed by monitoring strategies deployed over owners who are capable of fulfilling the years. From hull design to motion this vision and remain committed to a characteristics, the Company has spent long-term future in the rig market is a decades refining aspects that serve to limit the impact on operational efficiency decisive factor,” Adshead and Baugstø and uptime. Costs are closely monitored conclude. throughout the development process – For more information, visit www.northsearigs.no from planning and building to onboard

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North Sea Rigs AS P.O.Box 7 No 4067 Stavanger Norway visiting address: Kanalsletta 8 No 4033 Stavanger Norway T: +47 51 22 84 00 www.northsearigs.no

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