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Jack Up Rigs For Reducing Costs

Jack up rigs are generally an important part of oil production and many hundreds are used worldwide today. They are almost as iconic as the first commercial oil drilling well in the 19th century; providing platforms that are movable and reusable. But, with costs increasing in the oil industry, are there ways to drive down the costs of jack up barge rigs?

Well, it really depends on whether you rent or own them as assets. If you own your own jack up rig equipment, then costs can be driven down via different approaches to maintenance, staffing etc. When looking to drive down lease costs of a jack up barge, this can very much depend on market conditions and developing contacts. But there is no doubt that a major factor in costs is poor purchasing and leasing practices. Inefficiency can also set in when production is low – irrespective of the rig being owned or leased. But this is particularly felt when rigs are being paid for on a daily basis as this can further send costs spiralling – as lease prices become cost efficient, or not, based on your operation's ability to turn out barrels of oil per day. And because inefficiency can be hard spot internally – particularly because of a lack of comparative data – this can be a big problem. So if you're looking to reduce costs, then specialist offshore asset management firms are a must. Not only do they have the technical expertise in offshore oil production, but they can also provide a fresh pair of eyes to critically appraise your operations.

So if you're looking to reduce the costs of your jack up rigs, or to increase the efficiency of your operations, you need the expertise of experienced offshore asset managers. At Attollo Offshore Ltd, we provide just that. Call us today on +44 1224 959810 or email us via info@attollo-offshore.com. To read more, visit http://www.attollo-offshore.com/.