Lars Petter Gullaksen
(Financial Director)
+47 97 09 92 76
gullaksen@rmnas.com
Advantages of the RMN concept
The RMN concept is unique and based on the best of Norwegian competence, traditions and business experience incorporating best practice. But above all, RMN can be an enabler to higher overall petroleum activity on the NCS and in other markets.
Through Rig Funds, RMN will be an enabler for longer term contracts. This will increase the attractiveness of the Norwegian Continental Shelf (NCS) and other rig markets, thereby increasing rig availability, rig renewal and long term sustainability to NCS and other rig markets.
RMN will build seamless activity programs against long term contracts with rig contractors and thus provide rig slots to single licenses/ operators at lower cost and lower financial risk than any existing alternative. At the same time the model removes the unwanted rig contractor role of the operator companies in selling out overcapacity, allowing them to stay in the role as operator during sublet arrangements between licenses/ other operators, without being forced to step down in favor of an assistant operator during rig procurement processes.
Through RMN, the operators will achieve necessary ‘arms length distance’. This will in addition reduce the risk of creating a secondary rig market where the operators are acting as both capacity selling contractors and buyers. Through participating in the RMN rig funds, the operators will gain access to a larger selection of purpose fit rigs at lower cost and lower exposure than offered through traditional single license based rig procurement. (Assuming that an operator takes a 33% position in three different rig funds, the operator will gain access to three purpose fit rigs at lower total financial exposure than what is required for securing one rig through the traditional method)
For the increasing number of smaller and single well operators, the RMN concept may be the only alternative to enable exploration drilling, marginal field development and tail end production, without taking an unacceptably high and unwanted financial risk related to long term rig contracts.
(RMN) is a company established under Norwegian rules and regulations, with the aim to construct and coordinate continuous well schedules in order to attract rig owners for awarding contracts to the user group.
Vision statement:
RMN shall have the ambition to become the executor of the joint business committee KonKraft’s recommendation to establish a neutral facilitator of rig sharing solutions among operators and licenses on the Norwegian Continental Shelf (NCS). Based on the acknowledgement from leading operators of having the “best practice” solutions of rig cooperation schemes, RMN also has an ambition of international growth as a preferred facilitator in focused areas (deep water, harsh environment, arctic operation, etc.).
The RMN concept will offer the operators to gain access to versatile of mobile rig capacity at lower cost and lower financial exposure for each of the participants (on pre and post tax basis) than any other existing alternatives. Furthermore, the RMN concept is unique and based on the best of Norwegian competence, traditions and business experience
Arne Wyller Christensen
(Operation Director)
+47 90 92 23 16
awc@rmnas.com
Frode Vassbø
(Managing Director)
+ 47 90 91 84 37
frvassbo@rmnas.com
Office:
Rig Management Norway
Hospitalsgata 4
4006 Stavanger
The rig sharing solution…
…enables operators ..
▪ ..who have limited number of wells to secure drilling capacity
▪ ..to offer longer term and attractive contracts (culminating into lower rates)
…provides operators ..
▪ ..with lower exposure
▪ ..with higher level of influence
▪ ..with increased flexibility
▪ ..with improved HSE trough continuity
▪ ..with access to best practices trough the consortium
For the increasing number of smaller and single well operators, rig sharing may be the only alternative to secure drilling capacity without taking an unacceptably high and unwanted financial risk related to long term rig contracts.