Banks Want to Know the Future Earnings Potential of Offshore Platforms, Both Those Currently Operating and Those Set to Start Operations
The world’s leading commercial and investment banks, through the VesselsValue platform, seek to learn more about the current earnings of offshore platforms and potential future earnings. Major investors in the oil sector are looking to technology, making future projections using cross-referenced data between current oil and gas production, and how the market will look in 5, 10, or even 15 years. Charlie Hockless, offshore director at VesselsValue, was interviewed and spoke about the applications of the digital tool in the global oil and gas sector.
Calculating the End of Life of a Platform
One of the main questions asked by the interviewer to the offshore director of VesselsValue was about calculating the end of life of an oil platform. “A forecast of the operational life of the rig can be estimated from historical practices. By analyzing the fleet database, VesselsValue can determine its typical life cycle and whether it can continue beyond its normal lifespan. Through the analysis of decommissioning trends and data collection from the VesselsValue database, our analysts calculate a reasonable end-of-life date for offshore platforms, which is typically 30 years. However, if the client is an experienced operator of older rigs and disagrees with us, this is one of the assumptions that can be modified in our assessments.”
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VesselsValue and the Future
Digital technology has firmly entered the oil industry, bringing tools that make current and future projections, thus preventing losses for both offshore platform operators and investors, who now use tools like VesselsValue to analyze whether the client will yield profits for the business.

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