Offshore oil and gas is in a race to produce the most competitive barrel of oil. But with dozens of different suppliers and multiple interfaces involved, the process of delivering a well safely, on time and within budget has become more complex for operators than it needs to be.
We are determined to reduce complexity, eliminate inefficiency and create better value for our customers by increasingly providing fully integrated services. This objective is achieved by combining our leading offshore drilling services with new digital solutions and innovative business models in close collaboration with customers and partners.
The most prominent challenge for our customers is often the significant inefficiencies and waste caused by using multiple suppliers, with misaligned incentives between the various parties. That is why we have formed alliances with strategic partners who are willing to challenge the status quo.
Smarter Drilling for Better Value
Being an Integrated Service Partner is one of many ways we deliver Smarter Drilling for Better Value.
Maersk Drilling and Seapulse have signed a Master Alliance Agreement under which Maersk Drilling will provide fully integrated services for a 12-well global exploration drilling programme. The programme spans shallow and deepwater wells in several regions, requiring a combination of jack-up rigs, semi-submersibles and drillships.
The fully integrated services will be provided on the basis of market rates with an incentive payment scheme to drive performance and provide potential upside for the parties involved in the well programme. Maersk Drilling expects to subcontract the majority of the well services.
"This alliance is a key example of a fully integrated service delivery model aimed at eliminating inefficiencies by aligning incentives and removing complexity across the entire value chain."Jørn Madsen
Examples of ISP business models
Alliance with Aker BP and Halliburton
Maersk Drilling’s tripartite alliance with Aker BP and Halliburton aims at lowering the cost per barrel and increasing profitability for all partners through the implementation of digital solutions, increased collaboration efficiency, and standardisation and simplification of processes.
The alliance is formalised in a five-year agreement with an option to extend for an additional five years. In addition to setting up shared goals and incentives, the alliance also aims to integrate project organisations, align safety procedures and create a one-team mind-set guided by the principles of “best man for the job” and “best for the alliance”.
Bespoke integrated service solutions
Besides the wide-spanning alliances, Maersk Drilling also offers integrated services delivery tailored to individual drilling campaigns.
Examples of this are deepwater contracts in Malaysia, Trinidad and Tobago and in Ghana. These agreements not only included standard drilling services, but also an integrated offering with multiple service components such as cementing, casing running, solids control and remote operated vehicles. This resulted in reduced inefficiencies and an alignment of incentives to the benefit of both Maersk Drilling and the customers.
In addition to offering integrated services in exploration and development drilling campaigns, Maersk Drilling is exploring new innovative business models in the form of entry into new markets. An example is Maersk Decom A/S, a joint venture with partner Maersk Supply Service which targets the nascent decommissioning market in the North Sea.
Maersk Drilling expects this type of offshore work to become significant in coming years, as field decommissioning is mandated by regulatory authorities, and is offering an integrated and easily accessible solution to operators through this joint venture.
Want to know more?
Contact your local Maersk Drilling representative for more information