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Oil Service Report Norway
O I L S E R V I C E R E P O R T N O R W A Y Introduct ion mater ia l
Oil Service Report Norway
What is the Oil Service Report? The Oil Service Report Norway is a combined top-down and bottom-up review of the offshore market in Norway: Forecast and historic figures are based on field-by-field spend and calibrated with revenue from oil service companies. As part of the Offshore Market we include products and services purchased by operators and offshore suppliers in Norway. It includes all purchases done by fields and licenses in Norway as well as purchases to terminals, export pipelines and oil sector equipment in Norway. The Oil Service Report Norway covers 100% of costs and investments, split into 11 main segments:
• Maintenance Services • Operational and Professional Services • Engineering • Procurement, Construction and Installation • Topside and Processing Equipment • Well Services • Drilling Tools and Commodities • Rigs and Drilling Contractors • Subsea Equipment and Installation • Transportation and Logistics • Seismic and G&G Services
These 11 main segments are split into 52 segments at level 2 and 157 segments at level 3. Historical revenue from 1985 for each segment is given, and revenues to 2020 is forecasted. In addition, we give revenue and market shares by segment and sub-segments for more than 1200 companies active in Norway. Field level information describing annual capex and opex, key contractors as well indicating upcoming modification projects are given for all platforms at the NCS. The Oil Service Report Norway is divided into three main sections:
• Basic section – Chapter 1 and 2: NCS Offshore Market’s history , cost trends, changes from previous reports, topics discussed in the media, insights and forecasted production and offshore market.
• Oil service segments – Chapter 3-13: Segment by segment overview with market forecast and latest available market shares
• NCS Platform review – Chapter 14: Field by field platform information and status with key contractors and upcoming modification projects
Who is this report for? This report is intended for both suppliers, operators and investors within the offshore market in Norway. - Suppliers: Understand market size and growth, business opportunities and
competitors position. - Operators: Understand the operating environment at the NCS: Upcoming
projects, market shares, possible suppliers and their market shares and more.
- Investors: Understand market size and growth, long listing acquisition candidates across the complete value chain in an instance.
How to use the report: The document could be used in connection with business plan work, strategy work and in management workshops. Specific segments, fields and companies are easy to find, using standard search functions in pdf-documents.
Introduction to Oil Service Report Norway
Rystad Energy’s Oil Service Report Norway is delivered as a pdf file for use within legal company/office site and is not to be distributed externally or to third parties in full or parts.
2
The team:
Jarand Rystad Managing Partner [email protected]
Markus Nævestad Project Manager [email protected] +47 47 63 40 28
Andreas Juvkam Eraker Management Consultant [email protected] +47 95 96 93 96
Martin Opdal Management Consultant [email protected] +47 90 91 38 46
Oil Service Report Norway
Source Time span Description
Norwegian Petroleum Directorate (NPD) • Historic figures
• Capex and opex per field (RNB*) • Monthly production per field • Field by field well numbers (exploration, development and
production)
Statistics Norway (SSB) • Historic figures • Estimates for current and next year
• Reported capex (both on- and offshore) aggregated by all active operators at NCS split into different categories (exploration, development projects, producing fields,…)
Field information • Forward looking statements
• Company reports • Field specific news • Rystad Energy interview with operators • Conferences and other industry research
Rystad Energy bottom-up model • Historic figures • Forecast to 2020
• Rystad Energy proprietary bottom up, field by field level forecast with Rystad Energy estimates for start-up and cost levels based on scouted information and taking historical analogs into account to get realistic progress and cost levels.
The Brønnøysund Register Centre • Historic figures • P&L for over 1200 legal entities** • Estimates if no Norwegian affiliate (i.e. import)
Oil service company information • Historic figures • Calibration of segmentation
• Rystad interview with management splitting revenue into oil service segments
• Company presentations and reports • Business intelligence
Rystad Energy bottom-up model • Historic figures • Calibration of segmentation
• Rystad Energy proprietary data base with market shares for all active oil service companies at the NCS
• Total revenue enables us to look at purchases between operators in addition to purchases made directly by oil companies
• Calibration point enabling us to more accurate split E&P purchases (opex and capex) into oil service segments
Oil Service Report - Data sources and process
* RNB = The Revised National Budget (Revidert Nasjonalbudsjett) ** We present bottom up figures for groups, e.g. Aker Solutions consists of several legal companies, but is here presented as the group Aker Solutions
3
+ +
+
=
+
=
Oil Service Report Norway
317 80
237
90 327
Offshore Market in Norway – definition and overview 2014 (1/2)
Source: SSB; NPD; Rystad Energy research and analysis * We include all purchases within offshore market segments, except office (property, IT, telecom…) and commodities (fuel, power) and purchases/investments done outside Norway (e.g. hull from Korea to rigs).
Total cost for oil and gas companies in
Norway, 2014: NOK 305 billion
Capex in Norway • Exploration • Field development • Brownfield • Pipelines and onshore
terminals • Offices in Norway Reported as “Investments” or “Capex” in license budgets to NPD/RNB and SSB.
Opex and non-op in Norway • Fields/licenses • Pipelines and onshore
terminals tariffs • General costs • Costs for license awards • Taxes and fees • Salaries
Offshore market in Norway, 2014: NOK
327 billion
Not part of offshore market: Salaries, CO2 tax, injection gas
and tariffs
Offshore market in Norway from Oil companies’ point of view, i.e. market for direct
suppliers
Suppliers’ purchases:
Sub-contracting made by suppliers
in Norway*
This includes purchases done by suppliers in Norway. We include all purchases within offshore market segments, except office (property, IT, telecom…) and commodities (fuel, power)
Capex Capex
Opex
Opex
4
Oil Service Report Norway
30
103
194
Offshore Market in Norway – definition and overview 2014 (2/2)
* Field development includes new export pipelines ** Field operation includes operations of export pipelines, onshore terminals and office construction *** Opex includes here Non-op (purchases of seismic and G&G in connection with regional and lease round work, outside license cost) Source: Rystad Energy UCube; Rystad Energy DCube; Statistics Norway; Rystad Energy research and analysis
5
Tariffs, income and petroleum taxes
Oil companies
BNOK 3.3
Salaries and other internal
REVENUE AND FINACING
TAXES AND TARIFFS
Field development*
Market for direct suppliers Capex and Opex***
237 BNOK Market for sub-suppliers Suppliers’ purchases
90 BNOK
BNOK 26
BNOK 60
28
81
128
Offshore Market in Norway 327 BNOK
Capex Opex Suppliers’ purchases
Oil Service Report Norway
Oil Service Segment definitions – Level 1 and 2
Source: Rystad Energy
Maintenance Services
Operational and Professional Services
Engineering
Procurement, Construction and Installation
Well Service
Drilling Tools and Commodities
Rigs and Drilling Contractors
Topside and Processing Equipment
Subsea Equipment and Installation
Transportation and Logistics
Seismic and G&G
Segment level 1 and 2 Segment level 2 and 3
Why have we chosen this particular segment definition? In defining the segments we have made a balancing act between several aims: - Easy to remember and give overview - Sufficient detail to be specific and allow data gathering - Sufficient generality to allow company benchmarking and global comparison - Industry jargon if possible - Relevant both for suppliers` market research and oil companies’ procurement analysis For inspiration, we have looked at segment definitions from Achilles (800 product oriented segments), SSBs (40 categories), INTSOK (16 segments) and others. However, our segment definition is genuine and made for the purpose of this report.
Automation and Electro MaintenanceInspection and Maintenance
Metal, pipes and valvesShip and Rig Repair
Government and OrganizationsISO
Operational ServicesProfessional Services
Support ServicesDetailed Engineering
FEED and StudiesOther Engineering and Project Management Services
Subsea EngineeringHull/Structure Construction
Offshore Construction ServicesOnshore Infrastructure Construction
Topside ConstructionArtificial Lift Services
Drilling ServicesWellbore Completion and Re-entry Services
Wireline and Geoscience ServicesCasing and Tubing Steel (OCTG)
Drilling FluidsDrilling Tools
Specialty ChemicalsJack-ups/barges
Platform Drilling ServicesSemi/Drillship
Well Management ServicesBuilding Components
CablesDrilling Rig Equipment
Electro, Instruments, Control and Telecom EquipmentFire and gas detection and prevention
Maritime EquipmentMaterial Handling Equipment
Processing EquipmentRotating Equipment
Subsea EquipmentSubsea Services
SURFTrunkline Construction
Base and LogisticsPetroleum Aviation
VesselsG&G Services
G&G SoftwareG&G Surveys
MultiClient Seismic SalesSeismic Data Processing
Seismic Sales
6
Oil Service Report Norway
Oil Service Segment definitions – Level 1, 2 and 3
Source: Rystad Energy
Control Room, Tele and IO MaintenanceElectro and Power System Maintenance
Instruments and Measurement MaintenanceInspection
MMO frame agreementsOffshore maintenanceOnshore maintenance
Metal and pipe welding and cuttingPiping Steel
Valve ServicesValves
Ship and Rig RepairGovernmental organizations
Media and EventsNon-governmental organizations
Access and ScaffoldingInsulation/Passive Fire Protection
Other Fabric Maintenance ServicesSurface Treatment and Painting
Field Operation ServicesFiscal metering Services
FPSO RentalPower Supply ServicesStorage vessel Rental
TeleCommunication and IO ServicesCertification and Integrity Services
Financial and Insurance ServicesLegal Services
Management ConsultingMeteorological Services
Product Design and AnalysisR&D Services
Safety, Health and Environment ServicesTechnical work force/operational support
Catering, Cleaning, Security ServicesComputers and Business Software
Offshore Accomodation ServicesOnshore Accomodation Services
Real Estate ServicesDetailed Engineering Hull/Deck
Detailed Engineering Topside/ModulesFEED and Studies
Engineering workforce and servicesOther Engineering and Project Management Services
Subsea Engineering
Auto
mat
ion
and
El
ectr
o M
aint
ena
nce
Insp
ectio
n an
d M
aint
enan
ceM
etal
, pip
es
and
valv
es
Shi
p an d Rig
Re pai r
Gov
ernm
ent a
nd
Org
aniz
atio
nsIS
OO
pera
tiona
l Se
rvic
esPr
ofes
sion
al S
ervi
ces
Supp
ort S
ervi
ces
Det
ail
ed
Engi
neer
ing
FE ED
an d Stu
die s
Oth
er
Engi
neer
ing
and
Proj
ec t M
ana
gem
ent
Se
rvic
es
Su bs ea
En gin
eer
ing
Mai
nten
ance
Ser
vice
sO
pera
tiona
l and
Pro
fess
iona
l Ser
vice
sEn
gine
erin
g
Hull/Structure ConstructionOffshore Loading Equipment/Turrets
Decommissioning and Abandonment ServicesHeavy Lift
Hook-up, systems testingMooring and floater installations
Onshore Hook-up and System TestingOnshore Infrastructure Construction
Onshore Office ConstructionLiving Quarter Module Construction
Module Construction BrownfieldModule Construction Greenfield
Module Support Frames and Deck ConstructionOffshore Aluminium and Helidecks
Electrical Submersible PumpsGas Lift Systems
Directional Drilling ServicesMud Services
MWD and LWD systemsOther Drilling Services
Well Production TestingCasing, Tubing and Liner running Services
Cement ServicesFishing Services
Other Well Completion ServicesPacker Systems and Plugs
Plugging, well wash, gravel packing and other well servicesRe-Entry and thru-tubing Services
Sand ScreensSubsurface Safety systems and Flow Control
Cased Hole WirelineCoring and other well G&G Services
Geoscience Consulting Open Hole Wireline
Casing and Tubing Steel (OCTG)Cement
FuelMud
Waste Management and water disposalBlowout Preventers
Downhole Drilling ToolsDrill Bits
Drill Pipe, jars and collarsCompletion Fluids and Additives
Corrosion, hydrate and paraffin inhibitorsH
ull/
Str
uctu
re
Cons
truc
tion
Off
shor
e Co
nstr
uctio
n Se
rvic
es
Ons
hore
In
fras
truc
ture
Co
nstr
uct
ion
Tops
ide
Cons
truc
tion
Artif
ici
al L
ift
Serv
ices
Dril
ling
Serv
ices
Wel
lbor
e Co
mpl
etio
n an
d Re
-en
try
Serv
ices
Wire
line
and
Geo
scie
nce
Serv
ices
Ca sin g an d Tu bin g Ste el
(O CT G)
Dril
ling
Flui
dsD
rillin
g To
ols
Spec
ialty
Ch
emi
cals
Proc
urem
ent,
Cons
truc
tion
and
Inst
alla
tion
Wel
l Ser
vice
Dril
ling
Tool
s an
d Co
mm
oditi
es
7
Oil Service Report Norway
Oil Service Segment definitions – Level 1, 2 and 3
Source: Rystad Energy
Jack-ups/barges
Platform Drilling Services
Semi/Drillship
Well Management Services
Building Materials and Furniture
HVAC Systems and equipment
Lighting and Heating
Cables
Drilling Rig Equipment
Control Room and Automation Equipment
Electrical Equipment - other
Electrical Equipment - Transformers, Rectifiers, Converters
Instruments
Telecommunication and IO Equipment
Fire and gas detection and prevention
Maritime Equipment
Cranes, Winches, Spoolers and Lifts
Other Material Handling Equipment (Trucks, feeders, packing..)
Chemical Injection Systems
Heaters and heat transfer equipment
Separators and Gas treatment
Tanks and Columns
Compressors
Generators and Transformers
Motors and Turbines
Power Generators
Pumps
Control Systems
Other Subsea Tools
Subsea testing, tool pool and other subsea services
Templates and Manifolds
Trees and Wellheads
Flow assurance Services
IMR (Subsea Inspec, Maint, Repair (ROV+Diving))
Pipeline Systems
Risers
Subsea Installation
Umbilicals
Trunkline Construction
Jac k- ups
/ba
rge s
Plat for
m
Dril
ling
Ser
vic es
Se mi/
Dril
lshi p
We ll Ma
nag
em ent
Ser
vic es
Build
ing
Com
pone
nts
Cab
les
Dril
ling
Rig
Equ
ipm
ent
Elec
tro,
In
stru
men
ts,
Cont
rol a
nd
Tele
com
Eq
uipm
ent
Fire
an
d ga
s de
tec
tion
an
d pr
eve
ntio n
Ma
riti
me
Equ
ipm
ent
Mat
eri
al
Han
dlin
g Eq
uipm
ent
Proc
essi
ng
Equi
pmen
tRo
tatin
g Eq
uipm
ent
Subs
ea E
quip
men
t
Subs
ea
Serv
ice
sSU
RF
Tru
nkli
ne
Co nst
ruc
tio n
Rigs
and
D
rillin
g Co
ntra
ctor
sTo
psid
e an
d Pr
oces
sing
Equ
ipm
ent
Subs
ea E
quip
men
t and
Inst
alla
tion
Containers and speciality equipments
Supply Base Operations
Petroleum Aviation
Anchor Handling Vessels
Crew Vessels
Other Vessels
Shipping Equipment and Marine Technology
Supply Vessels
Surveying, Positioning and Oceanographic Services
Field G&G Services
Field G&G Studies
G&G and Petrophysical interpretation Services
Reservoir Management Services
Geology and Seismic Software
Reservoir Modelling and Simulation
Well and Pipeline Flow Modelling
Geotechnical/Site Surveys
Gravity and Magnetic Services
2D MultiClient Seismic Sales
3D MultiClient Seismic Sales
Seismic Data Processing
2D Contract Seismic
3D Contract Seismic
4C Contract Seismic
4D Contract Seismic
Electromagnetic Seismic Services
Land Seismic
Base
and
Lo
gist
ics
Petr
ole
um
Avia
tio
nVe
ssel
sG
&G
Ser
vice
sG
&G
Sof
twar
eG
&G
Su
rvey
s
Mul
tiClie
nt
Seis
mic
Sa
les
Seis
mic
D
ata
Proc
essi
ng
Seis
mic
Sal
es
Tran
spor
tatio
n an
d Lo
gist
ics
Seis
mic
and
G&
G
8
Oil Service Report Norway 9
Chapter 1: NCS offshore market history
Introduction with observations and comments on the NCS historical development
Detailed overview of historical E&P spending; Yearly and quarterly statistics broken down in several multiple ways:
i) Category (opex, capex,..)
ii) Asset type (exploration, development,…)
iii) Oil service segment
Well-by-well overview of exploration results since 2000 i) Life cycle – indicates likely field developments
ii) Provinces – exploration hot spots
Operator and field level spend overview – key customers for EPC contractors
Oil Service Report Norway
Example: Offshore market in Norway 1990 – 2013, split by 11 main oil service segments
Source: Rystad Energy based on SSB and industry research
10
Offshore Market in Norway NOK billion nominal
0
50
100
150
200
250
300
350
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012
Maintenance Services
Operational and Professional Services
Engineering
Procurement, Construction and Installation
Topside and Processing Equipment
Rigs and Drilling Contractors
Well Service
Drilling Tools and Commodities
Subsea Equipment and Installation
Transportation and Logistics
Seismic and G&G
Main Oil Service Segments:
Oil Service Report Norway 11
Chapter 2: NCS offshore market forecast
Introduction with observations and changes in the market forecast
Key topics discussed in media: A section discussing the hot topics in the media with implications for the market
i) Rigs being put on hold, ii) Lay-offs in oil service,…
i) Top 50 oil field service companies ii) International revenue , …
Production profiles 2000-2025 in different breakdowns
i) Life cycles
Market forecasts presented in different breakdowns
Quarterly insights: A section discussing topics related to recent research by Rystad Energy
ii) Operators
iii) Provinces,….
i) Segments
ii) Life cycles
iii) Category
iv) ..and more iv) ..and more
Oil Service Report Norway
Example Q3 2014 (released October): Key topics discussed in media Q3 2014 (1/3) – Statoil with overcapacity in NCS rig portfolio
* Day rate for original contract ending Aug 2014 Source: Rystad Energy, offshore.no, offshoreenergytoday.com, statoil.com
12
Topic Summary and impact
Headline(s) Statoil ends Ocean Vanguard contract (In the news: June 2014) Statoil suspends Scarabeo 5 contract (In the news: July 2014) COSL Pioneer temporarily suspended (In the news: September 2014)
Summary of news articles
Over the last quarter, Statoil has suspended or cancelled a total of three rigs active on the NCS: Ocean Vanguard, originally contracted until February 2015 with Statoil at 454 000 USD/day terminated from August 2014 The 32 year old rig owned by Diamond Offshore was planned to drill for Statoil in UK in June 2014, before coming back to the NCS for the last period of the contract. Due to confidentiality terms in the contract with Diamond offshore, Statoil has not given any statement to why it terminated the contract. According to offshore.no, industry sources has claimed the contract was terminated due to i) excessive downtime, and ii) the rig does not have automated fire vents as required by the Petroleum Safety Authority (PSA). However, Diamond Offshore has an exemption to operate without automated fire vents on ocean Vanguard. Scarabeo 5, contracted until 2017 with Statoil at 399 000 USD/day temporarily suspended (July 2014) Due to overcapacity in the rig portfolio, Statoil suspended the contract for Scarabeo 5 (14 years old) for the remainder of 2014 in July. It was drilling at Visund at the time. “We are planning for the rig to be in operation again after the turn of the year. (…)”, said Statoil’s Tore Aarreberg, rig procurement responsible . COSL Pioneer, contracted until 2016 with Statoil at 320 000 USD/day* temporarily suspended (September 2014) Statoil stated in a press release September 17th: “Due to overcapacity in our rig portfolio, Statoil will lay up the COSL Pioneer rig in the fourth quarter of 2014.” “After a careful review of our drilling plan, we find it necessary to suspend COSL Pioneer for the time being,” says rig procurement responsible Tore Aarreberg.
Key segments affected Rig and drilling contractors, Well services and Drilling tools and commodities
Rystad Energy take away and expected market impact
Statoil reports that the change “(…) will have no impact on Statoil’s production targets or planned exploration activity on the NCS We see a reduced rig demand in 2015 compared to 2014, primarily driven by lower willingness to explore, but also certain field-developments and infill drilling campaigns being pushed to the right. Current outlooks call for activity to pick up again into 2016 and beyond. However, the massive influx of rigs that the NCS have seen past years, and will see coming years (confirmed Songa and Maersk rigs with possible additions of speculative newbuilds such as North Sea Rigs, Stena, etc.) creates an oversupplied situation that will last for several years. 2014-levels in the Rig and drilling contractors segment is down by 4% compared to Q2, and 2020 levels are down by 14%. Well services and Drilling tools and commodities are both adjusted down with 1% in 2014, and 13% in 2020.
Oil Service Report Norway 13
Chapter 3-13: Segment by segment overview
Introduction to segment with key drivers and recent contract awards and company transactions
Player overview: Graphical and tabled of 2010 revenue for all active players in segment Ideal for company screening (acquisition), competitor analysis, analyzing market shares, etc.
Company deep dives on segment level 3 revenue for selected chapters
Historic development and forecast by level 2
Deep dive on most recent years by level 3
Tabled view
Graphical view
Oil Service Report Norway 14
Chapter 14 – platform by platform overview – Example: Southern North Sea, Valhall
Valhall Field Information
Platform FactsValhall PH (started production Jan 2013)Steel platform; Process and hotel (180); Installed 2012; Start-up: Jan 2013; Capacity: 120 kbbl/d; Topside weight: 11,85 kt; Base: Kværner; Deck: Heerema; Installation: Saipem; W. depth: 69mValhall PCPSteel platform; Process; Installed Dec 1981; Start-up: Oct 1982; Capacity: 168 kbbl/d; Topside weight: 13 kt; Base: McDermott; Deck: Aker Stord/Kvaerner Brug/Vigor; Installation: Heerema; W. depth: 69 mValhall WPWellhead Platform; Process; Installed May 1996; Start-up: May 1996; Capacity: 40 kbbl/d; Topside weight: 2 kt; Base: Heerema; Deck: Heerema; Installation: Heerema; W. depth: 69 mValhall IPSteel platform; Drilling; Installed Aug 2003; Start-up: Jan 2004; Topside weight: 10 kt; Base: Aker Verdal; Deck: Aker Stord; Installation: Saipem; W. depth: 69 mValhall DPSteel platform; Drilling; Installed Jan 1981; Start-up: Oct 1982; Topside weight: 7 kt; Base: Aker Verdal; Deck: Aker Verdal; Installation: McDermott/Heerema; W. depth: 69 mValhall QPSteel platform; Hotel(209); Installed Apr 1980; Start-up: Oct 1982; Topside weight: 3 kt; Base: Aker Stord; Deck: UIE/Sterkoder/Vigor; Installation: McDermott; W. depth: 69 mValhall Flanke NordWellhead Platform; Installed Jul 2003; Start-up: Jan 2004; Topside weight: 2 kt; Base: Heerema; Deck: Heerema; Installation: Heerema; W. depth: 69 mValhall Flanke SørWellhead Platform; Installed May 2003; Start-up: Fall 2003; Topside weight: 2 kt; Base: Heerema; Deck: Heerema; Installation: Heerema; W. depth: 69 m
Recent modification projectsAll Platforms• New subsea pipeline systems 2008• Late life redevelopment - new production and
accom. platform 2010-ongoing, Aker Solutions (NOK 450 mill)
• Water Handling, PorPure and NLI, 2010• HVAC, Apply Oil & Gas, 2011• Life of Field Seismic system – LoFS, Technip (NOK
50 mill)• Office modules, HB Rentals, 2010/11 (NOK 5 mill)• Gas lift modules at Valhall Flanke Nord and Valhall
Flanke Sør. New modules at Valhall WP (2009-2011) including Riser/ESDV facility.
• Electrification from shore from 2011
Recent redevelopment projects• Valhall PH (production and hotel) platform started
production January 2013. Part of Valhall redevelopment program with total development cost of BNOK 49,6 (+98,2% compared to original PDO estimate)
Upcoming modification projectsAll Platforms• Gas lift modules at Valhall Flanke Nord and Valhall
Flanke Sør. New modules at Valhall WP (2009-2011) including Riser/ESDV facility.
• Longer term, need wave protection/prolonge legs due to subsidence
• Modifications related to decommissioning and shut-down of old platforms
• Candidate for drilling facility upgrade• Candidate for gas treatment upgrade• Pumps, Eureka Pumps (Align), frame agreement with
BP for three years
Upcoming redevelopment projectsAll Platforms• PCP, QP and DP platforms decommissioned by 2020• "The Greater Valhall Programme" - possibly two new
platforms, drilling of 20 to 30 wells, 43 BNOK investments, includes investments at Ula
– New Wellhead Platform at Valhall: cancelled 2014– New process and living quarter platform at Valhall
(Valhall PH)– New platform at Hod: Cancelled 2014– Upgrades at Ula
• Maersk Reacher drilling contract renewed for drilling untill Q3 2016. In addition, new Jack-up ordered by Maersk for Valhall from Daewoo Shipbuilding and Marine Engineering. Delivery 2016, value 3,8 BNOK.
Source: NPD; Company information; Rystad Energy research and analysis; Industry sources
1
Operator BPSupport org. StavangerMMO FA Aker SolutionsISO FA Bilfinger IndustrierOther FA Safety and autmation systems: ABBDrilling op. ArcherWells since 2005 42
2008 2009 2010 2011 2012
Total OPEX 1015 1063 961 1505 2036Total CAPEX 6445 7781 7063 4866 6170
Oil Service Report Norway