CODA reports that there is over AUS$50 billion of decommissioning work in Australia over the next 50 years, over half of which will commence within the next 10 years.
AGR, which has been heavily involved in the inception of the initiative launched by National Energy Resources Australia (NERA), said it will combine its international and regional well decommissioning experience with its own propriety iQx™ software to reduce costs and improve collaboration for its clients in Australia and worldwide.
To further enhance AGR’s value proposition, a new approach using iQx P1™ software, has been developed to assist planning for abandonment campaigns.
Andy Perchard, VP APAC of AGR, commented: ‘The unpredictable nature of abandonment and intervention operations presents complex challenges in comparison to exploration and development drilling operations. iQx™ P1™ software fits well when planning well abandonment operations as it provides probabilistic modelling as an effective tool to generate a deeper understanding of the risks and costs associated with projects.
When used effectively, probabilistic modelling provides tools for assessing the multiple methodology options available and selecting the optimum abandonment method, ultimately reducing costs.’
‘The application of iQx™ combined with AGR’s vast Wells Decommission experience and transfer of lessons learned across multiple projects will add significant value to CODA in its ambitions of reducing costs by 35%,’ added Perchard.
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Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/23032021/agr-to-assist-centre-of-decommissioning-australia-with-reducing-well-decommissioning-costs/