Offshore staff

Houston Halliburton's Subsurface Control Valve III (SSC III) will allow up to a million pounds of drill string to hang off it, thus providing a safe, efficient, and cost-effective to secure the rig and evacuate personnel when the threat of a hurricane arises.

Securing the rig can involve having to undo days of work because the downhole string weight has to be reduced, which involves tripping drill pipe and wasting precious rig time.

With rig spread rates averaging more than $800,000/day, the cost to secure a well when pulling the string can quickly reach $1 million (USD). Additionally, the high level of activity driven by the rush to get personnel to safety can create hazards.

5/1/07