Following ongoing field support operations, Petrex recently undertook works on behalf of a key client Ithaca Energy in the handling of their returned offshore field equipment stock, held in secure storage in Aberdeen.
Returned field equipment retains strong monetary value if correctly packaged and protected for storage. However the economics of storing equipment need to be balanced between the net value of the equipment verses the storage fees and intended period of retention. With this in mind Petrex undertook a full review of their clients stock in Aberdeen storage, detailing an action plan for either consolidation or scrapping of the materials and equipment.
The scrapping and recycling of materials which realistically will be unable to be reused, releases the residual value whilst also realising a month on month saving by removing the associated yard storage fees. The remaining equipment was fully itemised and consolidated in order to reduce the storage footprint. This allowed accurate look up lists of the available equipment for future field campaigns, whilst again reducing associated storage fees.