Speaking at the Sea Asia Offshore Marine Forum in Singapore Jan Holm, managing director of Maersk Drilling Holdings Singapore, which owns a fleet of Singapore-flagged drilling rigs, said that the drilling industry remains a commodity and that had been few changes in the way it works since the 1980’s.
Holm believes it is time for a change and that drilling companies cannot rely on ever increasing day rates. “The culture seems to dominate around the tools that we use, in other words it is focused on building bigger rigs rather than thinking about the value we can bring. I think its time for a change in mindset to focus much more value creation than our assets,” he told the conference organised by Seatrade and Singapore Maritime Foundation.
Oil companies report unproductive of 20% even as high as 30% despite the cost on assets that are chartered at $500,000 per day.
“Our industry our industry seems to have adopted a view that uncertainties in the drilling process is something that have to be accepted and factored in,” he said.
Holm said Maersk Drilling sees a huge opportunity to reduce the level of unproductive time.
To achieve this he said: “This means working together at an early stage to design the best possible solution and also building a much closer relationships becomes increasing important.
Some change is now being seen how some oil companies are doing business when it comes to drilling and well completion.
“We can see oil companies are looking increasingly for integrated services which seems to be driven by a desire for some customers to seek reduce the number of contractors and seek close partnerships. In other words we see a shift very transaction orientated tenders to relationship orientated clients,” Holm said.
In March Maersk Drilling named the world’s largest jack-up rig, the Maersk Intrepid, built at Keppel FELs in Singapore. Including the Maersk Intrepid Maersk Drilling has four such rigs on order, three at Keppel FELS and one at Daewoo Shipbuilding and Marine Engineering at a total cost of $2.6bn.
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