io oil and gas consulting delivers to BP

io oil & gas consulting, an independent venture backed by GE Oil & Gas and McDermott, has enhanced its portfolio of work with two successive studies on a project for BP.

io initially completed a feasibility study for BP that contributed greatly to improvements in the concept for a project that allowed both the capital cost and schedule to be significantly reduced. Since this project-enabling work, io has expanded its role by deploying io’s fully integrated asset approach (reservoir to production infrastructure through to delivery point) to further define and refine the concept choices.

io’s CEO Dan Jackson said: “Since beginning operations a year ago, io has grown steadily with an expanding client base of innovative companies that want to make a lasting difference in the sector. BP encompasses this type of forward thinking, and we are thrilled to have built a relationship and look forward to supporting current and future operations”.

Integrated asset approach

“io’s bespoke ‘integrated asset approach’, which has systems thinking at its heart, guarantees that clients will get the best value solution for their project. The approach represents a radical shift in the industry, increasing certainty of a positive FID. Increasingly, our clients look for strategic counsel as well as technical advice to manage risk and enhance economic viability, and io is unique in its ability to offer this.”

Adrian Luckins, VP Global Projects Solutions for BP, said: “io is a fresh new player in the market and we are seeing real value in their expertise”.

Lorenzo Simonelli, CEO of GE Oil & Gas, said: “We are proud to support io and certain that the venture can make a lasting difference in the current oil price environment. Through io’s unique way of thinking and proven methodology, the company has the power to provide the innovative solutions to make a step-change in upstream operations”.

David Dickson, CEO of McDermott, said: “We are confident that io will be able to transform the upstream sector in this challenging time for the industry. By focusing on innovative solutions, io will be able to continue its steady growth and create a positive impact within the industry.”

io works across both greenfield and brownfield projects and has recently completed its first year of business, following its launch in January 2015. Since then, it has moved its London headquarters to the Shard and opened an office in Houston’s Energy Corridor in 2016.

Adapted from a press release by Louise Mulhall

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