VP Business Development
Low Emissions Light Well Intervention Vessel
Drilling new subsea development wells attracts a high cost per barrel and emissions intensity and maximising economic value of existing subsea well stock is often more attractive from a value and sustainability perspective. In 2021, 44% of existing UK subsea wells were shut-in or temporarily plugged and 57% of all wells suffered from issues such as well integrity, water production and reservoir pressure¹.
AKOFS Offshore light well intervention vessels (LWIV) offer the full range of riserless and riser-based well intervention operations, along with subsea tree deployment/recovery and construction capabilities. AKOFS LWIVs are environmentally friendly with focus on low fuel consumption, low exhaust emissions, and have DNV’s “Clean” and“Battery” class requirements incorporated into the vessel design.
Considerably more value can be gained from longer term multi-well campaign planning of LWIV operations, with evidence demonstrating that longer term vessel commitments drive greater competition, whilst also delivering greater campaign benefits and emissions reduction investment.
AKOFS LWIVs can deliver subsea well interventions at a significantly lower cost per barrel on a 1 or 2 year declined average production gain basis (20-30% less) than new development well drilling. Additionally, AKOFS LWIV operations will deliver 50% emissions savings (approx. 300 tonnes CO2e) per operation compared to rig-based operations, and can deliver further per-well cost and emissions savings via campaigning of work.
¹ Source: NSTA Wells Insight Report 2022
Identified as a Lower Emissions Oil and Gas Solution (LEOG). Use company contact for detailed value proposition.