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Banks want to know the future earnings potential of offshore platforms, both those that are in activity and those that will start operations
The main commercial and investment banks in the world, through the VesselsValue platform, seek to learn more about current earnings from offshore platforms and possible future earnings. Large investors in the oil sector are looking into technology, future projections using cross-data between current oil and gas production, and how the market will be 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 oil and gas sector worldwide.
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 the calculation of the end of life of an oil platform. “A prediction of the rig's useful life is made and can be estimated based on historical practices. By analyzing the fleet's database, VesselsValue is able to determine its typical lifecycle and whether it can continue beyond its normal lifespan. Through 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 30 years. However, if the customer 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 entered the world of oil once and for all, bringing tools that make current and future projections, thus avoiding losses both for offshore platform operators and for investors, who start to use tools with VesselsValue to analyze whether the client it will give profits for business.
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