Three Benefits of Using Accurate Weather Data to Support Offshore Tenders
As part of Offshore tender responses, bidding companies will typically analyse what they can expect the weather to be throughout the year. Based on this data, they’ll establish when in the year they can reasonably expect to do the work.
They’ll analyse the specific project requirements and model against the likely weather conditions, including maximum wave height, wind speed and wind direction. Based on the outputs, they’ll establish when in the year they can do the work. This information determines the limitation of the job and they’ll submit their tender with this information included.
But what happens if they aren’t using accurate weather data?
The risk of not using accurate weather data when responding to tenders
Where companies choose not to use a professional weather service and rely on free online weather data, previous experience or anecdotal data, it can lead them to miscalculate the weather risk: a potentially expensive mistake.
What happens if the project runs into 20 days downtime when only 10 days were predicted? They still have to pay for the vessel, the crew, the materials and fuel, putting profit from the project at risk.
This situation can be linked back to the fact they decided not to spend a little bit of extra money getting that accurate weather data.
The three key benefits of using accurate weather data in tender responses
The downside of efficiency drives in offshore is that some companies choose not to invest in weather data during the tender process. However, this increases the likelihood that they will miscalculate their weather risk, which would prove much more expensive down the line, and miss out on the three key benefits that weather data can provide:
- Increase cost-effectiveness
Knowing the likely limitations of a project means you can price more competitively. As well, weather data can help companies determine how to bid, including whether to push for a lump sum or a day rate contract.
- Improve planning for offshore asset design
Before even starting work, weather data can feed into the design specification process, to help ensure that offshore assets are able to withstand the local conditions and minimize the associated weather risks.
- Reduce the risk of unplanned downtime
Analysis of the metocean data, combined with the vessel requirements, enables reasonable timelines for projects to be set, with an understanding of when the work is likely to happen. This reduces the risk of unplanned downtime during the project itself.
Investing in weather data while tendering will help you price competitively, by giving you confidence in the downtime that you can reasonably expect during a project. It reduces the risk of unplanned downtime and helps to maximize efficiency and profitability.
Discover how weather data can support teams to improve tender responses.
Download: How Weather Data Helps Offshore Companies Improve Tender Responses