Challenge
A UKCS operator engaged THREE60 Energy to identify opportunities to improve the profitability of a mature North Sea platform operating in ultra-late life.
With a limited remaining production horizon, the focus was on identifying practical, quick-win OPEX reductions that could be implemented without significant capital investment or lengthy modification programmes. Any proposed changes also needed to maintain the asset’s production capability while ensuring its operating and maintenance requirements remained appropriate for the remaining asset life.
Solution
THREE60 undertook a targeted review focused on two principal areas: simplification of the topsides facilities and optimisation of the asset’s operations and maintenance model.
The facilities review assessed opportunities to optimise, simplify and decommission process and utility systems, identifying surplus equipment that could be removed or taken out of service without impacting maximum production potential. In parallel, THREE60 reviewed planned operations and maintenance activities within the asset’s maintenance management system to identify opportunities for rationalisation. Platform manning requirements were also assessed against the remaining asset life and reduced operational scope, helping define a leaner operating model proportionate to the asset’s ultra-late-life requirements.
Result
The study identified immediate and achievable opportunities with the potential to reduce asset OPEX by approximately 25–30%, with minimal additional capital investment required.
Recommendations also included rationalisation of power generation equipment, providing opportunities to reduce associated emissions alongside lower personnel requirements and reduced logistics and helicopter activity. The study provided the operator with a practical pathway to simplify the asset, reduce its operating cost base and improve economic performance throughout its remaining production life.
