Standardisation and scrapping on the table for offshore marine

Singapore

PERSISTENTLY low oil prices have served as a wake-up call to the offshore marine industry some said had been fat and happy for a tad too long.

But to be fair, industry players had realised before the 2014-15 oil price collapse that the party will not last forever and efforts have been made to improve cost efficiencies.

BP had already looked into "using more solutions off the shelf" and duplicating or standardising equipment, chief executive Bob Dudley was cited as saying at an Opec seminar back in June 2015.

Besides BP, Energy Maritime Associates managing director David Boggs also noted a trend towards "design one, build two or more" among field operators active in the US Gulf of Mexico. He cited simi…