Osbit Ltd, the UK-based offshore technology company, has been awarded a contract by FTAI Ocean, a subsidiary of Fortress Transportation and Infrastructure Investors LLC (FTAI), to design and construct an innovative new well intervention tower system.
Osbit’s Smart Tower System facilitates integrated riserless and riser-based well intervention operations, in water depths up to 1,500 metres, and is to be installed on FTAI’s flagship DP3 vessel M/V Pride.
The Smart Tower System combines elements of modular technology from Osbit’s experience in well intervention and offshore handling, with a series of innovations to improve operational safety, flexibility and accessibility. The tower’s vertical Completion Workover Riser (CWOR) racking system improves deck safety by reducing the need to access the intervention floor and to handle CWOR joints, while its small footprint optimises deck space, for more effective equipment storage.
The Smart Tower System integrates the existing vessel crane into the full deployment system, with up to 250 tonne active heave compensated capacity. Additionally, the system offers a universal platform for surface pressure equipment, active heave compensated slickline and e-line operations and for the building, operation and recovery of CWOR and intervention systems.
The Smart Tower System is fitted with multiple guide wire systems and an extensive deck skidding system, which minimises the need for crane lifts, increases operating windows and enables equipment to be directly loaded into the well centre.
The Smart Tower System will also feature Osbit’s Integrated Logistics Support (OILS) control system technology, which the company has already integrated across a range of offshore assets. The software package will deliver unrivalled data insight and performance analysis, while its market-leading control cabin is highly ergonomic, and will interface with the vessel’s safety systems, crane and CCTV.
Osbit has a strong background in the provision of technology across the global offshore industry, with particular expertise in well intervention. The company has successfully delivered a diverse range of equipment which is actively working in the field, including tension frames, maintenance towers, moveable intervention floors, access gangways, ROV launch & recovery systems and guide-wire handling equipment.
Emphasising the significance of the project win for Osbit, Managing Director, Brendon Hayward said: “We are thrilled FTAI has selected Osbit to undertake such an exciting project, which is a significant milestone for us. We are perfectly placed to supply this system with our extensive experience of delivering complex well intervention systems and large-scale offshore handling equipment. Osbit’s Smart Tower System represents our continued commitment to reducing the risk and cost profile of projects for our clients enabling increased safety and greater operational time offshore. Our team is hard at work and looking forward to delivering the completed system.”
Commenting on the strategic investment, Jon Attenburrow, Managing Director at FTAI Ocean said: “We look forward to working with Osbit to develop the intervention tower and transform the M/V Pride into a world-class well intervention vessel.”
About Osbit
Osbit is an offshore technology company, with an extensive global track record in the development of cutting-edge equipment for back-deck and subsea applications. Osbit’s engineers design and build bespoke equipment, primarily for use in the offshore wind, oil & gas and subsea industries. The company specialises in developing appropriately engineered solutions and delivering them ‘On Spec, to Budget and In Time – also known as the OSBIT standard. Osbit develops and delivers engineering in a diverse range of technology streams, including subsea trenching, offshore access, well intervention and pipe & cable lay. The company’s head office is in Northumberland, UK and it operates an assembly facility at Port of Blyth. For more information, visit www.osbit.com.
About Fortress Transportation and Infrastructure Investors LLC
Fortress Transportation and Infrastructure Investors LLC (FTAI) owns and acquires high quality infrastructure and equipment that is essential for the transportation of people and goods globally. FTAI targets assets that, on a combined basis, generate strong and stable cash flows with the potential for earnings growth and asset appreciation. FTAI is externally managed by an affiliate of Fortress Investment Group LLC, a leading, diversified global investment firm. For more information visit www.ftandi.com.
About FTAI Ocean
FTAI Ocean, a wholly owned subsidiary of FTAI, owns and operates a fleet of advanced, dynamically positioned vessels used in the IMR, subsea construction, well intervention and decommissioning markets. FTAI Ocean assists oil & gas operators with increasing their production from existing subsea wells by providing well intervention, well enhancement and plug & abandonment solutions.
