Creating a lean, mean North Sea operating machine

Independent operators tap into benefits of next-generation toolbox

Independent operators have transformed the landscape of offshore oil and gas in the North Sea over the last decade by introducing new business models based on a leaner and more agile approach to traditional assets.

Activity from these smaller companies is often focused on maximising production from existing infrastructure, boosting recovery rates in the most economically efficient manner through the deployment of cutting-edge technologies.

This next-generation toolbox includes a wide range of well services – which must, to achieve the best returns on investment, be delivered in a reliable, dependable fashion that minimises risk while boosting the size of the opportunity.

Odfjell Technology has positioned itself as the partner of choice for this new way of working, getting it right the first time, every time, for small independent operators in the North Sea.

Assets

Mature assets in the North Sea – wells number in the thousands – have since the turn of the century shifted in increasing numbers away from the large companies responsible for building the original infrastructure.

In their place, independents are taking control of what are often smaller and/or older fields, working to increase recovery at a reduced cost and extending the life of operations – sometimes even into adjacent low-emission technologies like carbon capture.

The target for these companies is value and efficiency, with a reduced margin for error but crucially within the same high standards of safety, environmental protection and responsible operation established and refined across the 50-year history of the basin.

Solutions are focused on doing more with less, on the back of proven technologies, with an emphasis on the lowest possible risk and the highest possible returns – with well intervention particularly important.

The industry is, after all, a crucial element of the just transition, and stands ready to deliver a secure and cost-effective supply that will remain a central plank of the energy mix in the decades ahead.

Partnership

Odfjell Technology has the experience and expertise required to make a success of ongoing operations in the North Sea and beyond, and has embraced the next-generation business models at play.

We understand the desire for new technologies in areas including well intervention, and the role that collaboration between partners and operators plays in the development of tailored solutions.

And we are at the forefront of the kind of support and dedication – on an integrated, incorporated basis – that is required to establish positive disruption to business as usual.

From concept to field trial, from applied learnings to proven commercial applications – Odfjell Technology can provide intervention services whether rigless or modular, for slot recovery and plug and abandonment, and including the wellbore clean-up tools that make the difference between first-time success and delay and expense.

And of course that is in addition to our established well services operations across drilling tool rental, casing drilling, tubular running services, engineering, construction and installation.

Evolution

The North Sea is clearly evolving, with small independents working to achieve attractive returns – and secure supplies – from established fields through a combination of new thinking, fresh technology and next-generation operational models.

Well intervention plays a significant and growing role in meeting these ambitious goals and targets: increased recovery, lower costs, reduced carbon emissions, maximum efficiency and minimal risk.

However success in what remains a harsh, demanding environment must still be built on a shared culture, proven heritage and forward outlook. Odfjell Technology – and its 50 years of pioneering, flexible and safe delivery – stands ready to help elevate your project to the next level.

About Odfjell Technology:

Odfjell Technology has five decades of experience operating worldwide, serving offshore and onshore markets. The company’s integrated business model enables it to provide a comprehensive portfolio of products and services designed to create value for clients. Its highly competent, dedicated and experienced workforce is well equipped to find solutions to the challenges of today and tomorrow. The energy transition is one of today’s greatest challenges. Odfjell Technology’s vision is to use its heritage and expertise to support the industry as it transitions to new energy solutions. To find out more about Odfjell Technology and its services, please visit https://www.odfjelltechnology.com/