Project Overview

SPD was engaged to conduct an independent review assessing the relative merits of Coiled Tubing Drilling (CTD) versus Conventional Tender Assisted Drilling (TAD) for an offshore infill drilling programme in Southeast Asia. The study was commissioned to address outstanding questions from an earlier joint CTD feasibility study. SPD’s objectives were to validate the realism of the CTD service provider’s time and cost estimates, develop a rigorous activity-level TAD estimate and assess relative risk profiles.

SPD’s Approach

SPD benchmarked the CTD estimate against the provider’s own earlier data and historical offset well performance. The revised 10-day drilling estimate for 1,000m was judged highly optimistic; provider’s own data indicated 15 days as more realistic. SPD developed a detailed activity-level TAD estimate using local PSC operator timing data, Pan Malaysia Contract tangibles pricing and a rig rate of $90k/day. Six key risk areas were evaluated across both methods.

Results & Value Delivered

✔ CTD Estimate Validated as Optimistic — Provider’s own data supported a 15-day benchmark, not the submitted 10-day estimate.

✔ TAD Total Cost: $7.54M — Detailed activity-level estimate provided a credible comparison baseline.

✔ Risk Comparison Delivered — Six risk areas assessed across both methods including P&A, completion, regulatory and market competition.