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- W2034242586 abstract "ABSTRACT From 1982 when the first TDS (Top Drive System) was introduced to drilling to 1993 when over 350 units were operating worldwide, there have been over 100 service bulletins issued by Varco (the TDS main supplier). These bulletins in conjunction with 5 major upgrades to the equipment have contributed to improvements in its operating performance and safety in operations. The bulletins and upgrades (= improvements) have been driven by continous feedback from TDS users worldwide. Inspite of the improvements haven been made, the tool remains a significant cause of rig downtime if not well managed. Sedco Forex, was the first drilling contractor to install a Top Drive on its rig (the Sedneth 201 & 202 in 1982) and has the highest number of Top Drives in use worldwide. Consequently, there was a need by the drilling contractor to develop and monitor a program to reduce TDS downtime. Analysis showed that 20% of rig downtime was accountable to this equipment. This analysis was conducted using performance data taken from 36 rigs over a period of 3 years. Half of these rigs were fitted with Top Drives. This downtime coupled with high maintenance cost and expensive upgrades of the equipment translate into over $200,000 cost per TDS unit per year. To address this issue, as an incentive, Sedco Foiex and Varco each pledged a nominal $1,000 lumpsum bonus/malus per TDS unit, payable by either party to the other, dependent upon improvements being made to Top Drive related downtime. The goal was to reduce TDS downtime by 30% within a year. Varco would earn the bonus / incur the malus if the goal was / was not achieved. During the first 5 months of the incentive agreement, it was observed that both parties profited to a degree far greater than the original pledge. This paper explains the virtual approach taken by the two companies to achieve a true win-win situation, and demonstrates the benefits to be gained through a simple and practical contractor - supplier alliance. The paper concludes that there is a potential saving to the oil industry of several million dollars by reduction of TDS related downtime." @default.
- W2034242586 created "2016-06-24" @default.
- W2034242586 creator A5039131231 @default.
- W2034242586 date "1994-02-15" @default.
- W2034242586 modified "2023-09-27" @default.
- W2034242586 title "Reducing Downtime Due to Top Drive: The $1000 Bet" @default.
- W2034242586 cites W2086758495 @default.
- W2034242586 doi "https://doi.org/10.2118/27512-ms" @default.
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