The recent combination of higher oil prices and the large number of newbuild subsea support vessels entering the marketplace is a catalyst for growth in the rigless well intervention market. The subsea well intervention market is being driven, in part, by the obligation of operators to abandon redundant subsea wells in the UK sector of the North Sea. An increase in other rigless subsea well intervention work across the globe is anticipated as well as operators strive to cut costs to maximize returns.
Rigless christmas tree installation frees up rig time for specific drilling and completion activities and can provide significant benefits in accelerated production and rig programs in the current tight rig market. In addition, the spread rate can be significantly less than the comparable rig rate, providing major cost savings.
Wireline data acquisition can provide significant reservoir management data that allows petroleum engineers to optimize reservoir models, to site development well locations, and ultimately maximize field recovery rates. With the current pressure on exploration results and the increased value of incremental production from high oil and gas prices, this type of intervention can be very attractive in more mature subsea regions. Historically, the costs of rig mobilization coupled with short duration operations have dampened the activity. A faster, more easily deployed, DP vessel that does not require anchor handlers during installation and demobilization and needs no riser to be run and tested offers a significant cost saving.
Examples of these vessels can be seen with two new TSMarine entries.
The first of these vessels will be a conversion of the MT6010 designHavila Harmony, due for delivery in March 2007 and chartered on a long-term arrangement with Havila Shipping. Once fitted with a large moonpool, extra accommodation and a heave compensated crane, the vessel is committed to undertaking a mixed program of well intervention work in Australia for Woodside Energy Ltd.
The program includes installing subsea christmas trees on wire and a number of production data gathering programs, both using a subsea lubricator system.
The second vessel will be the newbuildREM Etive. This MT6016 design, due for delivery in April 2007, has a long-term arrangement with REM Maritime.
The TSMarineREM Etive.
Fitted with two TSMarine owned Quantum 150-hp ROVs, 140-metric-ton (154-ton) AHC crane, and accommodation for 100, theREM Etive can carry out a wider variety of operations.
TSMarine also plans to install a 100-metric ton (110-ton) capacity module handling tower positioned over the moonpool. The tower can deploy subsea modules, such as control pods and christmas trees, and will be supplemented with a module skidding system to facilitate a subsea lubricator package. The unit will be fitted with a heave compensated top-drive, automated pipe handling, and a rotary spider for tubular make-up. This will allow drillpipe to be run and used for a variety of operations including well abandonment and intervention, seabed excavation, and potentially, tophole drilling.
TSMarine entered the market with Initial well operations limited to subsea decommissioning where the well control issues and operational complexity are relatively limited. By targeting opportunities to work for well service contractors such as Weatherford and WellCut, TSMarine says it has built a knowledge of well operations that includes identifying the necessary vessel capabilities required to support abandonment as well as more complex well operations.
