Velesto – Asset Management, Project Management, 2024

Phronteseas will partner with Velesto E.B. team to offer specialized expertise in project management and operational excellence. Spearheading the planning process for the Special Periodic Services required by multiple Jack-Ups, Phronteseas has deployed a project manager, three subject matter experts, and three key personnel to ensure meticulous planning and eventual execution.

GMS – Asset Management / Advisory, 2023

Phronteseas dispatched a team of six subject matter experts to conduct a comprehensive survey and assessment of the semi-submersible. Engaged by the client following their acquisition of the asset, the team provided expert insights to deliver an informed condition assessment onboard the vessel.

Grupo Carso – Asset Management, 2022

Phronteseas conducted an exhaustive rig survey and assessment, evaluating operational readiness and management systems aboard both assets in the Americas, with a 7-man team of subject matter experts (SMEs) conducting gap analyses, scoping, budgeting for reactivation costs, and summarizing findings into a comprehensive due diligence report.

Kuwait Drilling Company – Asset Management, 2022

The client operates drilling rigs ranging from 1500 to 3000 HP, with over 20 land rigs in need of significant refurbishment. Phronteseas initially deploying a 3-man project team, prior to expanding its personnel to include a project director and numerous subject matter experts (SMEs). Phronteseas undertook the task of delineating the project scope, generating all necessary work packages, and developing a comprehensive project plan, including timelines and critical paths. Additionally, the project demanded a minimum 35% reduction in the allocated budget.

Atlantica Delta – Asset Management, Operations Management & Advisory, 2022

Phronteseas assumes operational oversight of an asset owned by a consortium of investors, entrusted with the tasks of managing its operations and marketing efforts on behalf of the current owners. Utilizing the PHS management system onboard, which has undergone rigorous auditing by DNV resulting in the issuance of a Document of Compliance (DOC) on behalf of the Panama Flag, Phronteseas ensures compliance and operational excellence.

In support of these efforts, Phronteseas has assembled a dedicated 12-man rig crew working on a rotational basis, complemented by a team of subject matter experts (SMEs) onshore providing round-the-clock support. This comprehensive approach encompasses inventory verification, engagement with regulatory stakeholders, supply chain management, and the provision of operational and marketing-focused engineering support.

Notably, Phronteseas’ management tenure has been marked by a commendable safety record, with no injuries or accidents recorded. Moreover, the team has consistently met budgetary targets, expanded the customer network, successfully negotiated contract extensions for berthing, and facilitated the sale of the asset on behalf of the owners, demonstrating a commitment to achieving operational excellence and maximizing asset value.

Arabian Drilling Company – Advisory / Asset / Operations Management – 2022

Phronteseas offered the customer a range of Jack-Up alternatives and provided acquisition assistance before taking on vessel management responsibilities for rig relocation from Mexico to the Middle East. This involved activating the two Jack-Ups, crewing the units with a suitable rig crew, and conducting thorough assessments of all equipment to establish a detailed project execution plan, including timelines and critical paths.

Furthermore, Phronteseas assembled a skilled rig crew of over 14 individuals and a project team comprising 12 members to oversee the operation. All rig systems were activated successfully, followed by the meticulous preparation of the tow to the loading location and subsequent transfer to the Heavy Lift Vessel (HLV) loading point. Our team prepared a total project scope of work, timeline and budgets for the two unit´s deployment to Saudi Arabia. This included gap analysis for Aramco compliance requirements such as “Schedule G” and “SWIM” rules to mention some key customer requests.

Phronteseas also played a key role in facilitating the execution of the seller/buyer agreement in international waters, ensuring smooth progress throughout the endeavor.

Borr Drilling – Asset Management, 2021

Phronteseas’ project was managed in close concert with the customer´s team, reactivating and relocating a Jack-Up from Cameroon to Qatar. We provided a dedicated senior project manager as well as senior management oversight to define the project scope, manage execution, and supervise the rig relocation. After reactivation, we managed, under the lead of our drilling contractor customer, the Contract Acceptance process.

The commitment from this reputable drilling contractor was the first contractual engagement Phronteseas AS achieved and therefore formed a major milestone for us.