ABTOG Marginal Fields Opportunity12 Jun 2014 15:48
From ABTOG website:
The size of the market for our buoyant technology is large and growing. The Wood Review noted that the average UK offshore discovery is now less than 25 million boe and that many undeveloped fields are considered to be marginal. It is expected that the number of marginal fields will continue to grow over the coming years as:
larger fields reach the end of economically viable life,
others will be stranded as ageing conventional production facilities are decommissioned, and,
new small fields are discovered.
Using data provided by Infield Systems Limited, we have identified over 1650 undeveloped discoveries worldwide in water depths that fall inside the parameters of our buoyant technology. At a conservative estimate, 412 fields, each containing less than 30 million bbl, lie within our ideal operating depths of between 60 and 250 meters. Of these, 312 have reserves of less than 15 million bbl and fewer than 100 have yet to be awarded licences by their host governments.
Initially, our focus is on the UKCS, where marginal hydrocarbon fields contain 5 billion boe. In our primary UKCS target – undeveloped assets containing less than 30 million boe – there are an estimated 84 suitable fields with collective reserves of approximately $70 billion.
Our advanced buoyant technologies provide a solution that will transform marginal field economics and unlock vast resources for the UK and across the world.