OGUK, the British oil and gas trade association, published new guidelines today focused on unlocking brownfield resource opportunities and companies getting the best possible output from their existing North Sea assets amid Covid-19.
The guidelines, written by the Unlocking Investment workgroup, a subset of the MER Asset Stewardship Taskforce, aim to help operators obtain good practice when identifying, ranking, approving, and carrying out opportunities to optimise production in areas such as well and reservoir reviews, surveillance and budget assigning. They also work to ensure assets on the UK Continental Shelf deliver efficient reserves recovery.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
OGUK operations director Katy Heidenreich said: “Looking after UK assets is crucial to the long-term future of the basin, especially at a time when a significant number of North Sea projects are put on hold. These guidelines help companies develop, maintain, and operate existing assets, finding the most efficient way to recover reserves from existing sites.
“Alongside other programmes such as the competitive well delivery initiative, it will ensure we can continue to meet as much of the UK’s oil and gas needs from domestic resources while also putting our sector in the best position to support the transition to net zero.”
OGA NNS area manager and MER Wells Taskforce co-chair Brenda Wyllie said: “When we look at the data from the OGA’s UKCS stewardship survey, it’s clear that there’s considerable additional value held in brownfield resources. Oil and gas will remain an important part of our energy mix for the foreseeable future as we transition to net zero, so increasing recovery and maturing these resources should remain a priority, despite the associated challenges.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
