Well economics in action
Serica & Dana – COSL Innovator: Proven Savings, Reduced Fuel Use, and Stronger ROI
October 14, 2025
This five-well campaign across the Triton, Gannet E, Guillemot, Evelyn, and Belinda fields in the Central Graben Basin redefined the economics of drilling on the UKCS. Completed 27 days ahead of plan, it proved how Stepwise enables operators and contractors to reduce rig time, cut fuel use, and capture measurable savings in real time. The result: stronger, well economics, verified ESG performance, and a new standard for collaboration across assets.
Key figures
Proven performance, measurable savings.
Stepwise enabled the team to complete the five-well programme through structured collaboration and live, data-led decision-making, reducing rig days from 443 to 416. Fuel costs fell from $11.2 million to $10.2 million, realising $1.0 million in savings. In total, 4,560 CO2te were avoided across the campaign, demonstrating that targeted efficiency measures deliver both economic and environmental benefit. Beyond these achieved results, Stepwise identified a further $0.8 million in potential fuel savings through recommended ERIs. Capturing these opportunities in future campaigns could lift total savings to ~$1.8 million, strengthening efficiency gains and lowering emissions further. Together, these outcomes demonstrate that structured, data-led operations generate tangible economic and environmental value – performance, proven.
Fuel saved
$1.0M
CO2 avoided
~30%
Operational efficiency improvements
~4 560 Te
Rig days avoided
27 days
Planned vs actual days
443 vs 416
CO2 intensity reduced
3.4→2.3 CO2 te
CO2 tax avoided *
$0.5M
Fuel spend reduction
8.7%
Total potential savings **
$1.8M
*** Assumptions: Campaign rig time: 416.3 days, MGO density: 0.85 t/m³, CO2 factor: 3.17 CO2 te/ t fuel, MGO price: USD 722.5 per m³, rig fuel baseline (actuals): 7,861 m³
How savings were made
Turning data into action.
Savings composition for implemented ERIs.
Total implemented savings: $1.0M
Implemented and recommended ERIs based on assumptions. ***
Total savings potential: $1.8M
Learnings and transferable insights for future campaigns.
- Establish clear energy management routines from day one to reduce fuel waste and improve control
- Streamline rig moves through better planning and coordination to save time and cost
- Monitor and optimise power use to stabilise performance and capture efficiency gains
- Source essential utilities from shore when possible to cut emissions and fuel consumption
- Maintain daily focus on energy awareness to embed consistent operational discipline
- Treat support vessels as part of the efficiency system, not a fixed overhead
- Set baselines early and track performance daily to spot and correct inefficiencies quickly
- Keep data and communication open across all partners to reduce friction and accelerate decisions
- Use a single data source to quantify results and prove ROI across teams and assets
- Align reporting with recognised standards to stay compliant and audit-ready
*** Assumptions: Campaign rig time: 416.3 days, MGO density: 0.85 t/m³, CO2 factor: 3.17 CO2 te/ t fuel, MGO price: USD 722.5 per m³, rig fuel baseline (actuals): 7,861 m³
The goal
Proving measurable efficiency while meeting regulatory expectations.
Stepwise was engaged to bring a unified approach to energy management across rig and vessel operations. By combining live fuel data with clear accountability and shared visibility, the team aimed to show that efficiency, compliance, and decarbonisation can progress together.
COSLInnovator. Image courtesy of COSL
The approach
The Stepwise method: from insight to action.
Campaign overview (when video is available)
Testimonials
Thank you!
Collaboration that delivers.
Serica Energy: Alex Pirie (Wells Manager), Derek Harrold (Well Operations Lead) and Johnny Pike (ESG) Dana Petroleum: Charlie Taylor (Well Engineering) COSL: Craig Cameron (Project Management) Alan Gregory (Rig Manager) and Torfinn Kalsto (ICT & OT Manager) Petrofac: Kevin Burr (Well Engineering Project Manager) and Simon Nixon (Well Operations Principal Engineer) Stepwise: Finlay Johnston (Chief Revenue Officer), Pål Erik Vang (Chief Engineer)