Demand Summary
A Liftboats’ demand is primarily driven by the offshore petroleum and wind energy industries by supporting construction, maintenance, and decommissioning of associated infrastructure.
Oil & Gas Liftboat Demand
Liftboats’ operational versatility in the O&G industry was first recognized in the United States. The asset class has since been adopted in Europe, West Africa, Asia, South America and the Middle East. A liftboat is used to support an offshore well through each phase of its life cycle: Exploration, Green Field, Production Optimization, Brown Field, and Decommissioning.
In the exploratory phase of a well, liftboats provide drilling assistance such as pipe setting, driving, and geotechnical investigation. Upon drilling of a well, a liftboat may also be used to facilitate well testing operations.
PRODUCTION OPTIMIZATION
EXPLORATION
GREEN FIELD
BROWN FIELD
DECOMISSIONING
Subsequent to drilling and well completion activities, a liftboat supports EPIC projects such as platform installation, hook-up operations, and pipeline construction.
All oil wells experience a decline in production over time due to a loss of reservoir pressure. A liftboat can mitigate the loss of production by performing well intervention operations such as coil tubing, wire-line, slick line, fracking, and work-over operations.
Often, a well produces for longer that the supporting infrastructure can maintain its integrity. Similar to green field activity, a liftboat will support EPIC projects related to rejuvenation of existing infrastructure such as pipelines, platforms, and connecting bridges.
Liftboats provide end of life support for wells that are no longer economical by facilitating plug and abandonment operations, platform decommissioning, and subsea cleanup.
Wind Energy Liftboat Demand
The demand for liftboats in the wind industry emerged in 1991 when Dong Energy built the first offshore wind farm. Liftboats, which are also referred to as Wind Turbine Installation Vessels (WTIV), are a preferred asset for installation, maintenance, and decommissioning of fixed offshore turbines.
The earliest liftboats to be used for offshore wind projects had crossover application to the petroleum industry with crane capacities on the order of 200 MT. Over the past 30 years, the size and weight of turbine blades, foundations, and towers have increased beyond the capabilities of a liftboat designed for the petroleum industry. The most recent WTIV to be built have cranes on the order of 1,500 MT. Likewise, the greater investment to build a WTIV relative to an O&G liftboat makes it commercially impractical for WTIV to support O&G projects. Since the offshore wind industry’s inception in Europe, it has experienced growth in Asia and North America.
Liftboats provide operational support for turbines that are no longer economically viable or have reached their design life by facilitating removal.
DECOMISSIONING
Offshore wind turbines are periodically serviced by liftboats for routine maintenance and inspection of components prone to cyclic fatigue such as gear boxes and blades.
REPAIR & MAINTENANCE
Liftboats support the installation of an offshore wind turbine's blades, tower, and foundation.
INSTALLATION
Prior to the installation of an offshore wind turbine, the operator may utilize a liftboat to collect bore samples to assess the seabed’s characteristics.
SITE INVESTIGATION
