Collaboration and Innovation

Ever since the Wood Review was released in February 2014, when crude was around $100 per bbl, there have been two consistent themes – the offshore oil and gas industry needs to implement new technologies and collaborate more effectively if is to address cost escalation and have a realistic prospect of maximising economic recovery. Since the oil price collapse, the warnings have become increasingly louder and the pleas for action more critical.

Innovation and collaboration are two of our founding principles at Marginal Field Development Company. Whilst we have focused for several years on reconfiguring proven technologies to deliver low cost production solutions, by establishing the MFDConsortium in Spring 2015 we also committed to a collaborative operating model to delivering projects and encouraging innovation.

As we begin our new blog focusing on issues associated with marginal field projects, the application of new technologies and increasing collaboration will be two consistent and prominent themes.