SINGAPORE-based Calm Oceans has completed its first jack up operation in what it says is a validation of its Mono-Column Platform (MCP) engineering design.

Calm Oceans chairman and chief executive Brian Chang said the Calm Ocean 101 platform had proven itself.

“It has now become possible via the new MCP design to provide first oil efficiently and economically, a real game changer in the field of exploration and development,” he said.

In an announcement, Calm Oceans said the MCP design was a reassembling of existing technologies offering real estate above water, using well proven technologies including the jacking units, mat foundation and steel column, which were commonly used in the oil and gas industry.

The CO 101, with large deck space and ability to handle high pay load, can be configured as a drilling and early production unit with accommodation for between 40 and 500 people, or as a mobile offshore production unit or central processing platform that can be suitably deployed for water depths of up to 500 feet.

Calm Oceans is offering to lease the MCP to third parties, with Mr Chang saying it would suit groups unwilling to spend a great deal to kick off their exploration or field development projects.

“With oil prices being at half of what it was six months ago, Calm Ocean 101 is definitely highly competitive compared to the use of high-spec jack-up as well as the investment on long-term offshore platform,” he said.

“Oil companies looking for cost-effective solution especially as a result of the prevailing oil prices will find CO 101 suitably effective.”

The MCP could also suit marginal field owners looking for self-installing and relocatable assets to monetise marginal fields in early production program, Calm Oceans said.