WHAT WE'VE DONE
The client had an asset in the UKCS which had recently been successfully appraised.
The client held discussions with ADIL on how they could help evaluate potential area developments for the asset. The client was also keen to demonstrate to the Oil and Gas Authority (OGA) that they were considering options for a regional field development in the area of their asset.
ADIL utilised their Marginal Asset Collaboration (MAC) service offering to support the client. MAC is an ADIL methodology to align licence operators in a geographic area to collaboratively maximise value for all the participants in that area.
MAC focuses on the challenges that asset owners may face when trying to bring their assets on stream or maximise returns from mature assets. By providing a safe and secure method for aligning different companies’ priorities it optimises value for all owners in an area. ADIL’s approach had the following phases:
Phase 1 was funded by the client alone, with the proposal that further phases would be funded from a group of participants.
The main outputs were to be:
ADIL was able to attract the interest of nearby Operators who subsequently shared info under a confidentiality agreement. Through employing ADIL, the client was also able to demonstrate to OGA that they were exploring a regional area solution for their asset.
Specific deliverables included: