Subsea: Standardization is the New Innovation

By Eric Haun
Monday, May 19, 2014
Image courtesy of Statoil
Oslo, Norway – May 19, 2014 – As one of the world’s most technologically innovative industries, the highly specialized subsea sector is not typically known for standardized operations. But that might change.
 
Companies like Statoil, the world’s second largest subsea operator, have traditionally achieved success by pushing the boundaries to what is possible under water, frequently going “longer, deeper and colder.” 
 
But as the complexity of global subsea projects grows, so too does the bill for contractors, suppliers, operators, engineers, researchers and just about everyone involved in subsea projects. Many believe that this doesn’t have to be the case. According to some of the leading companies in Norway’s vibrant subsea cluster, including Statoil, standardization is an effective way to generate cost savings in even the most complex projects.
 
Standardization does not necessarily mean innovation is stifled. Rather, instead of spending costly engineering hours working toward the next grand, over-over-the-top subsea solution, industry leaders are striving for smart, simple answers to some of the sector’s largest challenges. This means innovation comes in the form of quick and effective, yet less costly, solutions that do not sacrifice quality.
 
Statoil’s Fast Track work process, for example, adds “simple, standard and cheaper” to “longer, deeper and colder,” said Torger Rød, Statoil’s SVP for Subsea, Pipelines and Cessation. The program essentially fuses tailored innovations with standardized solutions to develop and begin subsea production within a 30-month timeframe.
 
Under this accelerated method, product specifications are simplified, existing designs are reused when possible and concepts are chosen from a preexisting catalog, eliminating the concept selection phase, Rød explained. With Fast Track, the company reports a 40% shorter execution time, a low breakeven level of $40/boe and average IRR (nom) greater than 25%.
 
Statoil currently has six Fast Track projects in operation off Norway, with six more on the way.
 
 
 
Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Technology

Last Call to Register for SHIPPINGInsight

Maritime industry conference and exhibition opens next week in Stamford, Conn. There’s still time to register online for SHIPPINGInsight 2014, the North American

Boeing, Liquid Robotics Enter Maritime Surveillance Partnership

Boeing and Liquid Robotics signed a global, multiyear teaming agreement for collaboration on product development, maritime services and operational deployments.

BMT Nigel Gee To Launch Project L3 at Monaco Yacht Show

BMT Nigel Gee, a subsidiary of the BMT Group, will be launching its latest innovative design, ‘Project L3’ at the Monaco Yacht Show. Building on Nigel Gee’s

Offshore

Hyde Guardian BWTS for Edison Chouest Fleet

Hyde Marine, Inc., a wholly owned subsidiary of Calgon Carbon Corporation, has been selected as a strategic supply partner for ballast water treatment (BWT) systems

Rosneft, ExxonMobil Continue Drilling for Now

Russia's Rosneft and U.S. ExxonMobil are continuing to drill in the Kara Sea and plan to stop work by Oct. 10, Russian Deputy Energy Minister Kirill Molodtsov said on Tuesday.

Aberdeen Harbour Installs Siklu Security Network

Aberdeen Harbour has extended its security solutions coverage using high-capacity backhaul from Siklu, the market leader in millimeter wave backhaul informs the Israel-based tech firm.

Energy

Last Call to Register for SHIPPINGInsight

Maritime industry conference and exhibition opens next week in Stamford, Conn. There’s still time to register online for SHIPPINGInsight 2014, the North American

Suncor Sends First Tanker of Western Canada Heavy Crude to Europe

Canada's largest oil and gas producer, Suncor Energy Inc, is shipping its first ever tanker of Western Canadian heavy crude from Canada's East Coast to Europe, a company spokeswoman said on Tuesday.

Pivotal to Deliver LNG to Carib for use in Puerto Rico

Pivotal LNG, Inc., a subsidiary of AGL Resources, announced this week a long-term agreement to sell liquefied natural gas (LNG) to Crowley Maritime Corp. subsidiary Carib Energy LLC (Carib).

News

Coast Guard Foundation to Honor Longtime Supporter

National Tribute Set for Thursday, October 9, 2014 The Coast Guard Foundation, a nonprofit organization committed to the education and welfare of all Coast Guard members and their families,

Suncor Sends First Tanker of Western Canada Heavy Crude to Europe

Canada's largest oil and gas producer, Suncor Energy Inc, is shipping its first ever tanker of Western Canadian heavy crude from Canada's East Coast to Europe, a company spokeswoman said on Tuesday.

Pivotal to Deliver LNG to Carib for use in Puerto Rico

Pivotal LNG, Inc., a subsidiary of AGL Resources, announced this week a long-term agreement to sell liquefied natural gas (LNG) to Crowley Maritime Corp. subsidiary Carib Energy LLC (Carib).

Offshore Energy

Steel Cut on First of Three ISVs for KT Maritime

A steel cutting ceremony held last week at the Singapore shipyard of partner company, ASL Shipyard Pte Ltd. marked the start of construction for the first of three

Two More Damen Twin Axe Catamarans for SeaZip

Damen Shipyards and SeaZip Offshore Service signed another contract for two Damen Fast Crew Suppliers (FCS) 2610 at Wind Energy in Hamburg. The two new vessels,

Rosneft, ExxonMobil Continue Drilling for Now

Russia's Rosneft and U.S. ExxonMobil are continuing to drill in the Kara Sea and plan to stop work by Oct. 10, Russian Deputy Energy Minister Kirill Molodtsov said on Tuesday.

Underwater Engineering

Transocean's Chairman Designate 2015 Named

Transocean Ltd. informs that at its recent Extraordinary General Meeting Merrill A. "Pete" Miller, Jr. was nominated as a director and the Board intends to designate him as vice-chairman,

Chariot Oil & Gas 1H 2014 Interim Results

Chariot Oil & Gas Announce Interim Results for 1H 2014 Chariot Oil & Gas Limited, the Atlantic margins focused oil and gas exploration company, today announces

Maersk Convincer gets 1 yr More

Petronas Carigali, the Exploration and Production subsidiary of the national oil company in Malaysia, has extended the contract for the jack-up rig Maersk Convincer by one year.

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2295 sec (4 req/sec)