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.
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 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 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 is one of the largest chartering and S&P (sale & purchase) shipbroking companies in the world with offices in 16 key shipping geographies worldwide. Its services include chartering, S&P, operations and market research across all the major commercial shipping sectors and can deliver a comprehensive shipbroking service in any location and at any time.
Braemar ACM advise in asset and shipyard negotiations and in project financing strategies.
Please visit Braemar ACM for
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 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
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 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.