Independent E&P Company - Stranded Field Support
Our Client was struggling with a mature field that had limited future production life. It was also a major infrastructure hub and would be an essential requirement for the future development of any nearby marginal discoveries. The Licences were approaching expiry and we were requested to carry out a detailed stranded asset evaluation to fast-track inclusion in our Client’s field development strategies.
We provided a specialist integrated subsurface and reservoir evaluation team to develop the potential and development strategies of near-field discoveries, including various satellites.
In addition to the discoveries within our Client’s acreage, we were also requested to develop and progress an evaluation methodology to assess third party opportunities which could either be tied back to the field or alternatively combined with other stranded discoveries to achieve a cost-effective development.
To achieve this we carried out the following activities:
- Seismic interpretation.
- Detailed static and dynamic modelling.
- Reviewed and understood various development options using 3rd party publically available data.
- Generated profiles and developed reservoir development/depletion plans.
- Carried out probabilistic and deterministic technical and economic analysis.
- Built ranked list of development options.
- Provided detailed technical and field development reporting for submission to DECC.
Axis’ engagement ensured that a full and independent evaluation of nearfield opportunities was completed prior to Licence expiry, allowing time for an informed decision whether to enter into discussions for an extension.
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