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Dynamic Positioning Of Vessels In Nigeria; The Feasibility

Dynamic Positioning Of Vessels In Nigeria; The Feasibility


Dynamic positioning (DP) started in the 1960s for offshore drilling with drilling moving into ever deeper waters, Jack-up barges could not be used anymore and anchoring became less economical. Hence, positioning vessels became the order of the day.


A dynamic positioning vessel is one controlled via an integration of a variety of individual systems and functions i.e. A computer control system automatically maintains a vessel’s position and heading by using her own propellers and thrusters.

Position reference sensors, combined with wind sensors, motion sensors and gyro compasses, provide information to the computer pertaining to the vessel’s position and the magnitude and direction of environmental forces affecting its position.

Examples of vessel types that employ DP include DP shuttle tankers, Accommodation and Offshore support and subsea construction vessels.

Day rates for positioning vessels in Nigeria depends on the class (Class 1 & 2) , the difference between  the former and the later is “Redundancy”  in class 1 loss of  position may occur in a single fault while in Class 2 Loss of position should not occur from a single fault of an active component or system such as generators, thruster, switchboards, remote controlled valves etc. But may occur after failure of a static component such as cables, pipes, manual valves etc.

The average day rate of a DP vessel is $25,000; it said that the demand for these vessels will continue growing over the next three years, driven by deep water projects in the gulf of guinea.

This report presents a clear picture of the marine support service to the oil and gas industry (upstream).It x-rays the strength, weakness, opportunities and threats to the support vessel industry as it affects Oil and gas exploration and production as well as importation of petroleum products.

It also covers Demand and supply of positioning vessels in Nigeria, Licensing and Regulatory issues, cost of acquisition.

Financing options of a DP CLASS vessel, it exposes emerging financing option both locally and internationally.

Table of Content

Table of Contents:

1       Introduction
1.1    Key success factor in operating OSV in Nigeria

2    Overview of the oil and Gas industry in Nigeria

2.1    Pest Analysis
2.2    Swot  Analysis

3    Overview of the maritime industry in Nigeria
3.1    Pest Analysis
3.2    Swot analysis

4    Oil support vessels
4.1    Types of offshore support vessel
4.2    Classification of Dynamic  positioning vessel
4.3    Function of  Dynamic positioning vessel

5    Markets
5.1    Demand for DP Vessels in Nigeria
5.2    Factors influencing demand
5.3    Estimated  DPVessels present in Nigeria
5.4    Outlook of OSVs in Nigeria

6    Licensing & Regulation
6.1    Licensing
6.2    Regulation
6.3    Regulatory Agencies
6.4    Functions of regulatory  Agencies

7    Cost Analysis of Acquiring  Dynamic positioning Vessels

8    Finance
8.1    Securing finance for OSVs  locally
8.2    Securing offshore finance for OSVs
8.3    Cash flow analysis of some  Dynamic positioning Vessels

9    Contract Sourcing

9.1    Pre –qualification for  Tenders

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Report Details

Report Details:

Report Type: Feasibility Report
Formats of Delivery: MS WORD/ PDF
No. of Pages: 31 pages
Product Code: FORA/2014/DynamicPositioningVessels/1115422
Release Date: 21/01/2014
Price: N 50,000
Language: English
Delivery time: 24– 48hours


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