Tianjin Daily reports that the “Guohai Anbang” semi-submersible accommodation platform, which had been idle for nearly a decade, has recently been successfully delivered and set sail under a bareboat charter arrangement. It has officially entered service for oil and gas exploration and development projects along the Belt and Road Initiative. This leasing project was implemented by SinoOcean Offshore Assets Management Limited in collaboration with its subsidiary located in the Dongjiang Comprehensive Bonded Zone of Tianjin.
It is understood that the Guohai Anbang semi-submersible accommodation platform was originally designed as a cylindrical floating production, storage, and offloading (FPSO) unit. It was later converted into a semi-submersible accommodation platform capable of operating in non-ice areas worldwide at depths exceeding 100 meters and accommodating 500 personnel.
The offshore original owner placed an order for the construction of this platform in 2010. However, due to market changes, the order was abandoned in 2016, leaving the platform idle for an extended period and reducing it to a “dormant asset.” The revitalization of this asset faces multiple challenges, including a narrow market application scope, complex technical conditions, and high operational costs.
Faced with this challenging situation, SinoOcean Offshore Assets Management Limited, through in-depth analysis of the global market and aligning with the vessel requirements of potential clients, ultimately reached a bareboat charter agreement with a European offshore accommodation platform operating company.
“Overseas leasing projects present greater challenges than domestic ones. Establishing mutual trust in cross-border cooperation, navigating cross-cultural communication, coordinating multilingual efforts, and managing time zone differences all pose rigorous tests for our market expansion, commercial negotiation, and contract performance management capabilities. This collaboration is particularly demanding as our partner is a seasoned European offshore living platform operator, making negotiations quite challenging,” stated a representative from SinoOcean Offshore Assets Management Limited.
During the eight-month asset activation and delivery process, the company overcame a series of challenges, including a large number of devices, complex system architecture, the need to restore the technical status of the equipment, the requirement for re-certification under international standards, and the heavy workload of cross-unit coordination, tight deadlines, and multi-site operations. They innovatively implemented full-chain management, successfully completing the inspection, debugging, and certificate renewal work with high quality, and successfully restored 1200 pieces of equipment, enabling the platform to meet the lessee’s operational requirements on schedule.
The successful leasing of the platform has driven the transformation of state-owned assets from “static holding” to “dynamic value creation,” effectively enhancing asset operational efficiency and economic value.