Lloyd’s Register Energy Launches New Land Rig Critical Equipment Survey
- Published: Monday, 07 March 2016
- Author: Daily News
Lloyd’s Register Energy’s new equipment survey provides a cost effective solution for assessing the integrity of land rigs. It helps operators and rig contractors limit downtime, as well as improve the reliability, safety and environmental impact of drilling programs. It also reduces inspection costs by up to 50 per cent. Launched today, the new service from has been developed in light of significant market challenges in the upstream oil and gas market, low oil prices and client mandates to achieve leaner operations.
The equipment survey service includes a newly refined set of inspection tools focused on safety critical equipment used in drilling operations. It covers an assessment of both capital and safety critical drilling equipment, mud systems, BOP and well control equipment, electrical equipment and systems, power plant, safety equipment and the maintenance and spare parts system.
The process developed by experts at Lloyd’s Register Energy in consultation with industry, filters low risk items which can reduce the number of equipment items that need to be inspected by at least 35 per cent, and the number of checklist items by up to 60 per cent.
The service can also be used to help companies assess the suitability of a rig for pre-bid or pre-hire, or provide an approach for cost-effective periodic rig health checks, and can demonstrate asset condition to potential financiers or investors.
Teril Smith, senior vice-president of Lloyd’s Register Energy’s Drilling services division, says: “The low oil price has restricted the budgets of drill rig operators for third-party services and this has resulted in our clients being less able to bear the costs of full condition surveys.”
Smith adds: “At around half of the cost of a traditional full inspection, our land rig critical equipment survey service is a cost efficient, fast turnaround inspection process aimed at assessing drilling capital and safety critical equipment to deliver a snapshot of rig condition and to highlight any major issues for our clients. We are also in the final stages of developing the service for jackup rigs and plan to release a similar service for semi-submersible rigs and drillships in the near future.”
Lloyd’s Register Energy has an enviable track record in drilling inspection services with the delivery of more than 9,000 rig inspections across the world.
The service is the latest edition in Lloyd’s Register Energy’s growing suite of rig inspection services including the Dropped-objects Survey, Full rig condition survey, People-Systems-Equipment audit, Acceptance survey and Valuation assessment.
Lloyd’s Register Energy applies its expert knowledge and independence to help clients and regulators design, construct and operate their capital intensive assets and businesses to their highest levels of safety and performance. Its world class expertise allows it to resolve and share solutions to the most complex situations, providing the confidence demanded by engineering principles, government regulations and industry codes and standards.
And, as part of Lloyd’s Register, it draws on a long heritage of fresh, innovative thinking in response to new technologies and challenges. The one consistent element is its commitment to independence, integrity and always doing the right thing.
Lloyd’s Register (LR) is a global engineering, technical and business services organisation wholly owned by the Lloyd’s Register Foundation, a U.K. charity dedicated to research and education in science and engineering. Founded in 1760 as a marine classification society, LR now operates across many industry sectors, with over 9,000 employees in 78 countries. LR has a long-standing reputation for integrity, impartiality and technical excellence. Its compliance, risk and technical consultancy services give clients confidence that their assets and businesses are safe, sustainable and dependable. Through its global technology centres and research network, LR is at the forefront of understanding the application of new science and technology to future-proof its clients’ businesses.
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