Optime Subsea Services targets cost savings on subsea tree installations

NOTODDEN, Norway -- A group of ex-FMC employees have teamed up with subsea installation player DeepOcean to found Optime Subsea Services, whose multiCompletionSystem (mCS) can provide up to 80% time and cost savings on subsea tree installations as compared to traditional solutions.

“The oil and gas operators have for years requested a cost reduction within the subsea industry. So far their expectations have not been met," Jan-Fredrik Carlsen, CEO of Optime Subsea Serivces, said. "Our technologies will limit operators’ Capex and significantly lower their Opex. For example, one of our solutions can save $1 million to $2 million per vertical subsea tree installation.”

Optime Subsea Services is a newly established subsea oil and gas services company. It has set up offices in Houston, Texas, and the city of Notodden, which is part of the ‘Subsea Valley’ industry cluster in Norway. The company develops its own technology and provides services within subsea intervention, installation and work over operations. Its technology strategy intends to be as simple as its technology; challenge the traditional solutions to deliver significant operational cost savings for the operators.

While Optime Subsea Services is a complete system provider, the company focuses on penetrating the market with two technological step-changes; the mCS called light completion intervention system (LCIS) and the remove operated completion system (ROCS), for future installation of tubing hangers on subsea trees.

LCIS 

The LCIS aims to install any subsea tree and for the vertical subsea tree, it can save up to 80% of the time and cost as compared to the traditional solution. It includes the possibility to install and start production from a subsea well from a vessel, instead of today’s favored solution of using a drilling rig. However, its most ground-breaking feature is its flexibility, explained Carlsen.

“In contrast to any other system, the LCIS can pull the tubing hanger plug and put the well on stream in one single operation. This is a game-changer when it comes to efficiency. As the LCIS is tailored for lighter operations, you can run it from smaller vessels that cost $120,000 to $150,000 per day, instead of large subsea vessels, with day rates from $350,000 upwards,” Carlsen said.

The LCIS will install, lock and test the subsea tree with its plug retrievable tool. The plug retrievable tool on top of the LCIS is a closed barrier system, and, since it does not penetrate any of the two barriers, it does not need a large cutting mechanism, such as a seal ram or safety head. The LCIS also addresses the contingency challenge by having the capability of leveraging a traditional work over system to land on the system should absolutely everything fail.

ROCS

The ROCS is an optimized way for future installation of tubing hangers on subsea trees. The system eliminates one of today’s most costly and time consuming challenges, which is damage to the control umbilical.

“The ROCS has a small electrical umbilical subsea and controls the tubing hanger by communicating to a control module inside the marine riser. Hence, we eliminate the need for an umbilical in the marine riser. This represents significant cost saving and frees up vital space topside as you do not need an umbilical reel anymore,” said Carlsen.

DeepOcean

Subsea installation and IMR player DeepOcean have been so impressed with Optime Subsea Services’ technology that it has decided to invest several million Norwegian kroner in order to acquire a stake in this company.