Ocyan sees current scenario as an opportunity for asset preservation area

The reduction of operations in the oil chain and the anticipation of rigs hibernation schedule by Petrobras, due to the lower commodity demand during the New Coronavirus pandemic scenario and the historical drop in the barrel prices, creates a potential opportunity in the industry for one of the services offered by Ocyan in its portfolio, the preservation of assets.

“The drop in the number of active rigs should reduce the hiring of maintenance services, but, on the other hand, it should give rise to opportunities for the preservation of these assets and those that can be put up for sale to Mature Fields Operators,” evaluates Vinicius Castilho, director of Ocyan’s Offshore Maintenance and Services area.

According to the executive, the new reality can also accelerate the decommissioning schedule of those units that, if not put on sale, will be deactivated.

“We live in an adverse and changing scenario. In a short term, maintenance companies will have to adapt to the new reality, and Ocyan is already doing this in order to offer new services to this market. This acceleration path of the decommissioning schedule should bring gains to the industry, in addition to broadening discussions between regulatory entities, and thus, in fact, creating continuous and profitable opportunities for the oil & gas chain. Ocyan follows the bidding movements and schedules to strengthen the partnerships necessary to meet this demand,” he adds.

Ocyan’s Offshore Maintenance and Services area has been considerably reducing maintenance operating costs while improving equipment operating performance, in addition to preserving them in case of hibernation to ensure the effective operational return at the appropriate time. Since 2018, the Preservation service has already accumulated more than three thousand preserved equipment, which demonstrates the area’s ability to expand its activities to third-party assets. The company also prospects strategic partnerships with the Mature Fields Operators in order to offer maintenance and offshore preservation services.

Pioneer in preservation

Ocyan is the first supplier focused on innovative solutions in the exploration and production market to perform the preservation of equipment and structures with operating assets. The activity uses an innovative method that comes from the petrochemical sector and contributes to reducing the operational costs of maintenance and improve operational performance of the vessels’ equipment.

According to Vinicius Castilho, the feasibility of the service without stopping or docking the rigs generates direct positive impacts on downtime reduction, the replacement of lost materials and equipment, reduction of fines imposed by clients, and minimization of work accidents risks, in addition to contributing to the safe return of inoperative equipment in the event of hibernation or temporary production stop of the assets.

Offshore Maintenance and Services Area in Figures

Ocyan’s Offshore Maintenance and Services business unit has extensive experience that can be translated into figures. Since 2000 up to this date, more than 30 contracts have been performed, 1 million hours of engineering, more than 120 production and drilling stops, more than 10,000 tons of piping and structures assembled on board of offshore facilities, over 1 million square meters painted and 14 million meters of scaffolding assembled, in addition to having almost 80 million man-hours worked with the highest level of safety and market quality. “Our record is approximately 20 million man-hours worked without work-related accident leave,” says Castilho. Watch MSO’s institutional video here.