This presentation discusses:
- Surplus rigs in the drilling market is an opportunity to reduce CAPEX by up to 50% and time to first oil by one year compared to an equivalent TLWP.
- There have been many drilling rig conversions over the last 35 years, mostly to production platforms, except for Luihua which is a drilling and WO semi in 300m water depth moored over a cluster of subsea trees.
- Subsea trees and freestanding risers enable a MODU to be repurposed as a permanent moored drilling and workover vessel for deepwater.
- Arrangement provides expansion flexibility to minimize upfront CAPEX and protect against reservoir uncertainty.
- Risers and vessels can be retrieved and relocated.
- The drilling vessel and a light construction vessel can be used to install the freestanding risers to avoid the use of an expensive heavy lift installation vessel.
If you would like a copy of this technical paper.