June 19, 2019

Optilift Motion Reporter saved Ithaca a full day rate of costs

The Optilift Motion Reporter has saved our client a significant amount of money, says Bjarte Fadnes, Rig Manager at the Odfjell Drilling-controlled “Deepsea Bergen”.

The Optilift sensor technology provide accurate information on how waves impact rigs, vessels and other offshore installations. Thus, it gives information on whether it is safe to continue supply operations or not.

– The Optilift Motion Reporter technology has at least once saved our client Ithaca up to a full day rate in costs, as the technology has made it possible for us to continue to load supply-goods from supply vessels – when we probably would have shut down rig operations without the information from the Optilift Motion Reporter, Fadnes explains.

He points out that using the Motion Reporter also work “in reverse”:

– The Motion Reporter does not only help us to extend our loading window capacity. As we now receive more accurate heave measurement, we are also able to close down our operations faster if the waves exceed security levels.

– In this case, the technology has made our operations a lot safer for our rig personnel – which is extremely important for us, he continues.

Significant value for oil operators

Camilla Nylund, General Manager at Optilift, is pleased with the testaments from Odfjell.

– I think it shows that the Motion Reporter has an unquestionable effect for the user. If an oil operator hires a rig company to drill a well, and the rig company is able to finish the job in 90 days instead of 100, as an example, because of accurate heave information, well, that is 10 days worth of rig rate expenses saved for the operator.

The offshore-based newspaper Offshore Energy Today reports an expected average day rate for ultra-deepwater rigs to lie between $200,000 to $225,000 on average in 2019. Based on such numbers, a full 10 day rate saving could potentially equal as much as $2,25m in reduced costs for oil operators.

– These are significant numbers, and they are also quite easy to calculate. Delayed loading of goods create a lot of negative subroutines for both the rig-operations and the operator. In harsh weather areas it is critical to be able to know the exact heave to keep operations as effective and safe as possible, Nylund explains.

Taking digital steps

Fadnes, on his side, points out that it is important for Odfjell to incorporate new technology into their daily operations.

– The oil and gas industry is traditionally a bit “conservative” maybe. But we want to be progressive and bold and see what possibilities new technology can give us, especially as the focus on reduced costs is growing.

– In this perspective, the Optilift Motion Reporter provides a concrete value that is easy to measure for us and our clients, he says.