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LONDON (Reuters) – Scottish marine salvage group Ardent is adapting the tanks it used to refloat the Costa Concordia, the cruise ship wrecked off the Italian coast in 2012, to decommission North Sea oil platforms. It is one of several companies trying new ideas to win business in the market for dismantling disused oil platforms quality cufflinks uk sale. In Britain’s aging oil fields alone, the opportunities could be worth up to 17 billion pounds ($21.85 billion) before 2025, according to industry body Oil and Gas UK. The ideas could then be deployed to other maturing fields such as in the Gulf of Mexico and southeast Asia..
Ardent says it needs at least two companies to sign up for a project to get off the ground. Well-Safe, another company offering a new approach, also needs several operators to commit. So far, Ardent has found it challenging to persuade companies to be the first to sign up. “Everyone is queuing to be second,” said Ardent’s Decommissioning Director Stuart Martin. Oil companies are keen to reduce costs in a part of the market dominated by major global players such as TechnipFMC (FTI.N), Schlumberger, Saipem (SPMI.MI) and AllSeas quality cufflinks uk sale.
Beyond the floating tanks, Ardent has also joined forces with oil services firm WorleyParsons (WOR.AX) and technology and shipping group Lloyd’s Register, to bring a one-stop-shop service quality cufflinks uk sale. This could save money by cutting out the need for lots of different contractors. Well-Safe proposes coordinating decommissioning work across companies to share equipment and staff. “You got to give Well-Safe and the others a real tip of the hat. We all want them to win. It’s in the best interest of the industry,” said Jim House, CEO of Neptune Energy, which is planning decommissioning for its Juliet and Minke fields in the North Sea..
Oil platforms are usually removed piece by piece and taken to the shore using complex vessels. The floating tanks that Ardent used to lift the Costa Concordia, are much cheaper to use, industry experts say. “This technology could have significant potential cost efficiencies,” the Oil and Gas Technology Centre, which is funded by the British government, said in a report. But Ardent says it would need contracts for at least two buoyant tanks to go below current costs per ton of steel removed and three to get below its target cost reduction of around a third. Britain’s industry regulator, the Oil and Gas Authority, has set a target of 35 percent cost cuts compared with 2015 levels quality cufflinks uk sale.