Oil Spill Response Ltd (OSRL) has announced the signing of a revised agreement for all SWIS members, establishing several new and updated benefits and removing significant financial barriers to accessing the dedicated subsea service.
SWIS membership provides its subscribing organisations with the ability to access a full subsea intervention capability, including capping and containment, complementing OSRL’s general Tier 3 response membership.
Following a consultation period with existing SWIS members, OSRL has now concluded the approval process for the new membership agreement. SWIS subscribers will now transition to the new business model and updated terms and conditions from 1st January 2023.
Speaking on the topic, OSRL Chief Executive, Robert Limb, commented: “The ratification of the new agreement represents a significant milestone for OSRL’s subsea business, ensuring the sustainability of this joint industry initiative and providing a solid foundation for membership growth. Expanding the benefits of and access to the SWIS service has been a key objective for OSRL and the industry we support, so this is a hugely positive outcome for existing members and those who will now be able to join. I want to thank everyone who has helped support this process.”
Amongst the agreed changes, key updates include:
- A new Capping Service – the capping service will become a comprehensive equipment stockpile that integrates OSRL’s Offset Installation Equipment (OIE) with its capping stacks to provide an expanded capability covering both shallow and deep water. The service also includes access to subsea incident response toolkits, dispersant delivery systems, water column monitoring equipment and other capping equipment ancillaries.
- Better value for members – An annual baseline membership fee now covers legacy wells and the majority of well re-entry activities without needing specific well nominations. This fee also now includes cover for two new wells. Members will then pay an additional fee to cover further wells.
- Removes existing financial hurdles for membership – The new model introduces a pay-on-demand alternative to the historic financial standing security approach. In addition, this update increases accessibility by removing a significant barrier for prospective members.
- Response Services – The introduction of mobilisation support aligns SWIS services scope to OSRL’s wider surface Service Level Agreement (SLA). Membership to SWIS continues to provide access to the SWIS Mutual Aid Framework Agreement (MAFA) and the Global Subsea Response Network (GSRN) we facilitate.
Additional company info:
Oil Spill Response Limited (OSRL) is the largest international industry-funded cooperative. It exists to respond to oil spills wherever they may occur, providing preparedness, response and intervention services. OSRL is wholly owned by most of the environmentally responsible oil and gas companies around the globe, and its membership represents the majority of the world’s oil production. It currently employs 260 people across twelve locations around the world.
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