Low-cost UK north sea exploration well
A Central North Sea exploration well was designed, planned,
and drilled within a six-month period for the UK subsidiary
of a US independent oil company.
The subsidiary had no previous operational experience
in the UKCS and no UK drilling personnel. As part of the
project management the client was provided with a management
system to expedite drilling operations in the UKCS. By
taking advantage of the prevailing low level of drilling
activity ADM negotiated favourable rig and service contracts.
Further savings were made in areas such as support vessel
chartering where the anchor handling and supply boat spot
market was used to provide vessel support.
The result was a 6,000ft (dry)
hole drilled for £1.75MM,
approximately £350,000 below the “integrated” package
quoted by a drilling contractor.