Necessity is the Mother of Invention... I had the pleasure of participating and presenting at DNVGL's inaugural meeting of the North American Offshore Equipment Manufacturers Committee this week in Katy Tx. Thanks to Anthony DSouza, Nick Prokopuk and Ian Friesen to the invitation! The forum is meant to bring upstream offshore equipment manufacturers and industry experts together to share knowledge and best practices with the goal of improving communication and making the Offshore industry as competitive and attractive to investment dollars.
In addition to several interesting technical presentations I particularly enjoyed the GE Pressure Control By The Hour talk given by Mike Bowie. Performance based business models like this one are key to making Offshore developments viable into the future. Julian Soles, Managing Director Transocean, gave the group a view into how they are revitalizing their organization to be competitive into the future. "Zero unplanned pulls" of BOP's is their stated goal. Understanding the data they have collected and how to use it effectively is their task ahead. Reducing labor costs (people on the rigs) is their near term focus. In my opinion Transocean has a very important role in making Offshore exploration and developments attractive investments again. I'm hopeful they will be able to follow through on their ideas to adopt and adapt as needed to make this happen.