We help companies to realise 
the value of marginal offshore oil and gas fields

Who We Are

Marginal fields represent huge potential value combined with low associated risks

Many fields judged to be marginal may have huge potential value if re-evaluated because of the variable nature of the key factors upon which that judgement has been made. Oil price volatility, improved technology and methods, changing standards, legislation and attitudes, continuing research, new investment are just a few of the fundamental characteristics of the oil and gas sector which is renowned for the complexity and scale of its investment decisions.

Marginal projects in which there is usually considerable ‘sunken cost’ can  become investable if their lower risks can be leveraged to improve returns.
Re-evaluation to determine whether a more suitable development plan can attract financing is key to transforming the economics of marginal or stranded fields, maximising recovery from mature (‘late life’) fields or even kick-starting larger development projects with early production systems.

MFDevCo and its Consortium apply this approach to identify their projects and are able to manage those projects through their lifecycle from opportunity screening, suitability assessment and financing through engineering to production and decommissioning. We welcome the opportunity to discuss how our approach can be applied to transform your assets.

Our Ethos
Be efficient – reduce costs and improve returns
Be flexible – evaluate options and identify most suitable solutions
Be different – innovate and challenge accepted practices

Our Team

  • Alan Minty
    Chairman

    Alan has over 40 years’ experience in the mining, petrochemicals and oil and gas. He commenced his career with Anglo-American (mining) in Zambia and worked for Occidental (petrochemicals) before becoming Risk Advisor for the Norwegian Petroleum Directorate in 1979. Since then he has worked almost exclusively in the oil industry, on major contracts for clients such as Mobil, BP, Amerada Hess, Shell and Texaco. Alan was CEO of Enegi Oil (now NU-Oil and Gas) between 2006 and 2015 and still serves as Chairman. During the last 10 years, he has focused on marginal field development strategies. Alan has a BSc in Mechanical Engineering, a MSc in Management Studies, and is a Chartered Engineer, Chartered Marine Engineer and Fellow of the Institute of Marine Engineering, Science and Technology (IMarEST).

  • Alison Pegram
    Managing Director

    Alison has 20 years’ experience in the oil and gas sector, primarily in risk assessment and risk management, managing projects for major operators worldwide, and particular expertise in engineering analysis and management and regulatory engagement. She has managed a contract with ExxonMobil on the Hibernia project for over 12 years, working on risk assessment studies and key regulatory documents as well as providing support on numerous occasions in discussions with the regulators on engineering modifications, and has worked on and managed long term contracts with companies such as Centrica, Petrofac and BHP Billiton. Previously Managing Director of RMRI, Alison has worked with the Chairman over the last 10 years to develop the ‘NU-SIFT Transform’, focussing in particular on the engineering of MFDevCo’s ‘template’ solutions and the reduction of costs by appropriate configuration of proven technology and reliable normally unattended operations. She has a BSc in Mathematics and a PhD in Electrical Engineering and Electronics, and is a Chartered Engineer and Fellow of IMarEST.

  • Damian Minty
    Commercial Manager

    Damian is a Chartered  Accountant  with over 15 years’ experience, most of that working in the oil and gas sector.  He qualified through the audit department of a large accountancy firm and held positions in JP Morgan and Deutsche Bank before entering the oil and gas sector. For the past 10 years, Damian has held positions in Nu-Oil and Gas plc., initially as Commercial Manager before becoming Chief Financial Officer in 2009.  During that period, Damian has been responsible for numerous corporate functions including Financial Accounting, Business Development, Project and Corporate Analysis, Contract Negotiation, Corporate Acquisitions and Sales, Risk Management, Fundraising, Corporate Governance, Regulatory Compliance, Strategic Planning and Taxation Planning.  He has worked on projects located in many different locations including Newfoundland, UK North Sea sector, Jordan and Turkey, both onshore and offshore, and gained a deep understanding of licensing regimes.  Damian holds a BSc in Computer Science and Management Studies.

  • Michael Hibbert
    Developments Manager

    Michael has over 40 years experience in the oil and gas sector, the majority of which has been on offshore projects. His wide experience has encompassed detailed engineering, concept, FEED and EPIC phases of project execution, project engineering and project management with specific expertise in the detailed engineering of subsea and platform production facilities. In a long career, he has worked on many projects and in a variety of positions such as Project Manager, SubSea Systems on the White Rose Project (Husky Energy), Project Manager, Otter Field Development Project (ODE Limited), Lead Project Engineer, Girassol Field Development Project (Elf Exploration) and Lead Subsea Project Engineer, Janice Field Development Project (Kerr McGee). His most recent position was with Premier Oil as Senior Subsea Engineer on the Sea Lion project but these projects represent just a small subset of his wide experience. Michael is a Registered Subsea Engineer, a Member of the Institution of Mechanical Engineers and a Member of IMarEST.  

  • Mike Bowman
    Non-Executive Director

    Mike worked for BP for 30 years, before retiring in March 2011, at which time he was BP’s Functional and Global Head of Geoscience as well as of Major Capital Projects Appraisal. He is an expert on integrated reservoir description and prediction and how this is used to better develop and manage subsurface oil and gas reservoirs. After retiring from BP, Mike took a part-time Professorial Chair in Development & Production Geology at the University of Manchester; he remains a Visiting Professor at Manchester but is now Chair of the Petroleum Engineering Programme at Texas A&M University, Qatar campus. In 2012 Mike was the President of the Petroleum Exploration Society of Great Britain, an eminent group with a membership of over 5,500.

  • Peter Coward
    Non-Executive Director

    Peter was, until the end of June 2016, a Senior Tax Partner at PwC, for whom he had worked since 1989. He has a BA in Economics and qualified as a Chartered Accountant in 1980. Peter has worked with private and quoted businesses, from small entrepreneurial firms to huge international organisations across a wide spectrum of industries including oil and gas, advising on structuring and the tax implications of complex international transactions. He has a detailed knowledge and understanding of tax regimes worldwide and of organisational and project structuring to optimise the tax position.

  • Einar Antonsen
    Non-Executive Director

    Einar has over 25 years’ experience in corporate finance, banking and accounting. He has a BSc in Business Administration and an MBA from the American Graduate School of International Business in Arizona. He spent several years working in banks, in America and Norway, specialising in financial instruments and financial engineering, before moving into institutional sales. Since 2000, Einar’s focus has been on the offshore and shipping sectors, where he has assisted clients with mergers and acquisitions, working with both equity and debt capital markets. Having left Fearnley Securities in 2015, he now provides independent consultancy advice to companies in these areas.

Work For Us

Our Consortium

  • Agr Logo Hi Res Border 1
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    AGR delivers well construction and project management, HSEQ, reservoir and field management services to the upstream oil and gas industry in addition to rig procurement, consultancy manpower, expert software solutions and tailored training. As industry pioneers, AGR work with their clients to find the best solutions to maximise safety, cost efficiency and performance excellence.

    AGR provides a range of services to design and deliver the requisite well engineering and well project management elements for marginal field development projects. AGR’s focus on maximising safety, cost-efficiency and performance excellence is perfectly aligned with the core values of the Consortium.

    Please visit AGR for further information.

  • Aibel Logo Pms 170509 090227
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    Aibel is a leading service company working within the oil, gas and renewable energy sectors providing engineering, construction, upgrading and maintenance solutions. Aibel will fulfil a project management and EPC contractor role, co-ordinating and managing the input of the Consortium to ensure delivery and acting as the key point of contact between MFDevCo and other Consortium members on projects.

    Please visit Aibel for further information.

  • Arup Logo For Printed Media  Black Cmyk Jpg File 300Dpi 60Mm A1
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    Arup is an independent firm of designers, planners, engineers, consultants and technical specialists offering a broad range of professional services and aiming, through their work, to make a positive difference in the world.

    Their oil and gas division helps create efficient infrastructure and storage for exploration, production and transport, while their oil and gas engineers and project managers deliver major projects that ensure the structural and geotechnical integrity of on- and offshore facilities, all the way to decommissioning.

    Arup is able to provide integrated production solutions combining normally unattended topsides with the Arup Concept Elevator (ACE).

    Please visit Arup for further information.

  • Braemar Acm Logo
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    COSL Drilling Pan Pacific Limited is the international branch of China Oilfield Services Limited (COSL) for the Jack-up Division and operates a fleet of 8 high specification jack-ups.

    COSL is the leading integrated oilfield services provider in the Asian offshore market and a majority-owned subsidiary of the CNOOC (China National Offshore Oil Corporation) Group. Its services cover each phase of offshore oil and gas exploration, development and production. Its four core business segments are geophysical services, drilling services, well services, and marine support and transportation services.

    COSL has the largest fleet of offshore oilfield services facilities in China, currently operating and managing 33 jack-up rigs, 12 semi-submersible rigs, 5 modular rigs, 2 accommodation rigs and 6 land drilling rigs.

    In addition, COSL also owns and operates the largest and most diverse fleet in offshore China, including more than 130 working vessels, 3 oil tankers, 5 chemical carriers, 9 seismic vessels, 4 surveying vessels, and a vast array of modern facilities and intrinsically developed and patented equipment for logging, drilling fluids, directional drilling, cementing and well work-over services.

    Please visit COSL Drilling Pan Pacific Ltd for more information.

  • Frames Logo Hi Res No Payoff
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    Frames designs, builds and delivers separation technology, oil and gas treatment, flow control and safeguarding systems and modules, even integrated solutions such as total plants. Frames is able to optimize upstream, onshore and offshore processes, and to deliver technical, smart and cost effective solutions.

    Frames will work closely with MFDevCo and Kongsberg Maritime to design and deliver offshore process and utility systems that can be operated on a normally unattended basis, a key component in enabling marginal offshore fields to be economically developed.

    Please visit Frames for further information.

  • Kongsberg Hi Res Jpeg Margin
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    Kongsberg Maritime delivers products and systems for positioning, navigation and automation to merchant vessels and offshore installations, as well as products and systems for seabed surveying and monitoring. It is a wholly owned subsidiary of Kongsberg Gruppen, an international, knowledge-based group delivering high technology systems and solutions to clients within the oil and gas industry, merchant marine, defence and aerospace.

    Kongsberg Maritime provides ‘best in class’ proven remote control and monitoring technology for MFDevCo’s normally unattended development solutions. 

    Please visit Kongsberg Maritime for further information.

  • Rmri Logo Blue
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    RMRI is an independent engineering and risk management consultancy providing a comprehensive range of asset, project and organisational risk management services throughout the lifecycle from concept design through to decommissioning.

    RMRI manages the health, safety and environmental regulatory aspects of the marginal field projects and is responsible for providing the demonstration of the integrity of ‘normally unattended’ operations.

    Please visit RMRI for further information.

Marginal Fields

Often overlooked but potentially hugely valuable assets

Many marginal oil and gas fields have lower investment risk because exploration and appraisal has been undertaken. A more appropriate development plan accommodating external environment changes could make many such fields, investable.

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