Sub-sea pipelay installation - ironing out the kinks, an MWS perspective
In this IIL marine & energy lecture James Vavasour considered the changing trends of sub-sea pipelay installation, using recent case studies, he outlined the lessons learned, and what we as an industry need to better understand to mitigate any further exposure to all parties involved.
Sub-sea pipelay technology and its current applications which aren't exactly breaking new ground, but something's definitely changed. There's a marked decrease in construction, particularly deep and ultra-deep water. Instead, sub-sea tiebacks are the most attractive option for many majors. With oil prices hovering well below $80/barrel; it's a cost driven market. Installation practices from the 80's are back in fashion but not the people, particularly relating to shallow water operations. Installation contractors have idle vessels and as they are aggressive bid work, often lump-sum, the balance of day-rates and margins hinge against downtime. Meanwhile, the generic scopes of work are being stretched to meaningfully address warranty scopes which have been reduced to nearly a desk-top exercise.
By the end of this lecture members would have gained an insight into:
- Different types of sub-sea pipeline installation
- What are their risks and weaknesses?
- Why are some old installation practices reappearing?
- What may happen in the future?
Melanie Raven, Senior Underwriter, Ark Syndicate.
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