E&P challenges in UKCS oil fields
Optimising recovery from existing fields
A major challenge for operators in the UKCS, and one that their NCS counterparts are also facing. All operators want to optimize recovery from their existing fields but the real questions is how to do this? What strategy and technology should be used? Whether you opt for air injection eor, chemical eor or are more ambitious (think Statoil’s subsea gas compression project in the Aasgard field) .. there is still great debate around the best method of optimizing oil and gas recovery
A trend that is currently affecting small and mid cap companies across the whole of the UKCS and west of Shetland is access to capital. Tight capital markets and uncertain economic conditions are making it difficult for companies to secure investment, therefore hindering the development of their operations.
Infrastructure poses a challenge to most operators in the UKCS – from infrastructure owning IOCs to small caps, all are faced with unique infrastructure challenges. Maintaining infrastructure and ensuring it is safe and reliable is a major effort, particularly when wanting to keep costs down. While small caps need to gain access to existing infrastructure to bring their reserves to production.
Do you agree? What challenges are you facing in the UKCS?
If you found this interesting you might be interested in the challenges associated with operating west of Shetland, available here
To find out more about this and more please see the Oil & Gas Outlook North Sea conference at: www.terrapinn.com/northsea