Maximising the value of late life operations in a low oil price environment

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Lloyd’s Register Energy Maximising the value of late life operations in a low oil price environment

How technology and innovation drive optimisation AND safety.

Rebecca Allison- Product Development Manager / Asset Integrity Services

Lloyd’s Register Energy

Agenda

Key Questions

The Way Forward

Factors Effecting Late Life Operations

Current Challenges

Late Life Requirements

Areas to Consider

Lloyd’s Register Energy

Factors Effecting Late Life Operations

Accumulating or

Accelerating damage

Modifications Obsolescence

Changes of process & / or

well conditions

Advances in knowledge

and technology

Organisational issues / loss of

corporate knowledge

Lloyd’s Register Energy

Symptoms of Late Life

Gas Deficient

Loss of Power

Scaling & Corrosion

Blocked Drains

• Unplanned Shutdowns

• Integrity Activities

• OPEX Costs Incr

ease

d

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Current Challenges

Mature Basin

Integrity Issues

Increased OPEX

Decline in Production

Offshore Inefficiency

High Lifting Costs

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Operational Requirements

Safety and operability of

the asset is retained

Prediction on the level of investment

required

Optimisation of maintenance

and inspection intervals,

activities and costs

Legislation, industry

standards and client

guidelines

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Late Life Management - Key Questions

1. How do we introduce efficiencies?

2. How can we help each other?

3. How do we make mature assets sustainable?

Lloyd’s Register Energy

ANTHONY J. D'ANGELO

Lloyd’s Register Energy

Late Life Management – Key Elements

Source: Oil & Gas UK: Guidance on the Management of Ageing & Life Extension

Lloyd’s Register Energy

The Way Forward

Lloyd’s Register Energy

Summary

• Integrity Management has to increase/improve in some areas and change focus in others.

• Criteria such as CoP, age of asset, commercial and risk criteria has an influence on the strategies.

• There is no generic model for a strategy of transition from operations to decommissioning.

• Data Management is key.

Lloyd’s Register and variants of it are trading names of Lloyd’s Register Group Limited, its subsidiaries and affiliates. Copyright © Lloyd’s Register Energy Drilling. 2014. A member of the Lloyd’s Register group.

Rebecca Allison Product Development Manager / Asset Integrity Services

Aberdeen

T +44 (0)1224 247446 / +44 (0)7816 066329

[email protected]

Working together for a safer world