Reimagining energy assets: facilitating sustainable strategies
Moving forward, we will work together with our client to continue to validate and develop the prioritised ideas, paving the way for further collaborative ventures.
OBJECTIVE
Our client faces significant liabilities with aging onshore assets. Their challenge was minimising the liability while seeking opportunities to repurpose the assets to enhance value and sustainability.
SOLUTIONS
We started by focusing on well repurposing. A significant number of wells were nearing the end of their productive life, and represented the greatest opportunity to impact decommissioning liability in the near term.
We generated 83 unique ideas in total. Our client’s subject matter experts were consulted throughout the process and helped develop the project success criteria used to distill the list down to 10 ideas.
Our team worked hard to validate the ideas, speaking to experts around the world and workshopping them down to the final 3 or 4 with key internal stakeholders. These ideas ranged from clever national grid connectivity, seismic monitoring to renewable fuels.
Due to commercial sensitivities, we can’t disclose the final opportunity. It was chosen due to its immediate potential impact of repurposing almost 300 wells that currently produce largely water.
OUTCOMES
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Save at least $150m in decommissioning costs. -
Create $58m worth of gas savings that can be sold to market rather than powering existing operations.
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Reducing carbon footprint through renewable power generation and enhancing social license.