The global energy landscape is shifting. Volatile commodity prices and a diversifying energy mix put margins from offshore projects under the microscope.
But what if the resources left don’t just hit investment roadblocks, but are not viable at all? In mature basins, this scenario is reality today. Here, the numbers only add up if operators can make smaller discoveries work.
These marginal fields are pushing the limits even of infrastructure-led solutions. They are no ordinary tiebacks. Their economic viability hinges on truly dramatic cost reductions.
Think halving the total cost of developing a field. Think moving from discovery to production within months, not years.
Shifting the economics of small field development requires a complete rethinking – and reshaping – of our industry’s value chains. Impossible? It’s already begun.
The building blocks of a new era exist today. In Norway, one of the first mature provinces to really hit the marginal reserves challenge at scale, operators are already trialing new ways of working, new ways of using equipment, new ways of thinking about costs. We see them challenging convention by reusing equipment, skipping topside infrastructure, collaborating laterally, stepping out farther.
The foundations of this new world were laid in the last decade: through a standardization drive that’s about to deliver one giant magic trick to bring many more marginal fields into play.
Reuse and sharing of assets is the key to dramatic cost reductions. Whether it’s reusing a standardised tree across multiple projects or flipping an exploration well into a keeper well.
Untether your development from scarce, expensive or simply unavailable topside infrastructure. For example, why not step out power from shore to electrified production equipment?
Go sequential where it enables smarter use of assets, run in parallel where it slashes time to first oil/gas. Access economies of scale across projects, zoom out to make best-for-portfolio decisions.
Bold alliances, formed around joint goals, enable creative solutions and agile jumping at opportunities. Where multiple teams act as one, projects are fast-tracked, new value found and maximized.
Building a subsea grid to power tomorrow
Electrification opens up new efficiencies and possibilities in subsea developments. It’s on
We can show you more examples of how our solutions have delivered real value for customers around the world.
