OWI EU 2020: Positioning the North Sea as the global centre of excellence for offshore well intervention

An extended period of price stability has resulted in record numbers of new projects coming online as increased levels of M&A activity in the North Sea drive brownfield rejuvenation. This a key use case for well intervention technologies and has seen new operating strategies emerge to take advantage of the opportunities associated with shut in wells, well loss reduction and enhanced recovery.

Developments in innovative technology such as improved data analytics and digitalisation have proven to be key enablers of new projects and the Oil & Gas Authority, the industry regulator for the UK oil & gas industry, recently updated its Wells Strategy Report with the objective of maximising recovery from the UK Continental Shelf (UKCS).

One of the key strategic themes of this report is an increase in well intervention to deliver significant potential resources form the UKCS. Specifically, the report states that:

"Restoring production from shut-in wells and reducing well losses could lead to additional production equivalent to a large new field, improve the economics of mature fields and potentially extend field life. The Wells Insight Report showed that 30% of the active well stock was shut-in, reservoir recovery factors were stagnant and 33 million boe production was not achieved due to well losses. The application of EOR techniques offers significant potential to improve recovery factors."

The report goes on to outline the Oil & Gas Authority's commitment to helping the industry improve well activity performance:

"OGA will support industry to utilise appropriate technology and take advantage of alternative business models to increase both in-well surveillance (data gathering) and well intervention activity that safeguards, restores and optimises production."

Margaret Copland, Senior Wells & Technology Manager for the Oil and Gas Authority is just one of this year's expert speakers at the Offshore Well Intervention Conference & Exhibition, held annually in Aberdeen since 2014. She will present to the audience of 400 senior wells professionals the updates from the Wells Strategy Report as part of the mission statement of OWI EU, which is to encourage industry collaboration and the sharing of best practice to help position the North Sea as a global centre of excellence for offshore well intervention.

Joining Margaret will be a host of offshore well intervention thought leaders from the leading regional and international stakeholders including super major operators, independent and national operators, well service, vessel, tooling companies and other key suppliers.

The keynote session at OWI EU in 2020 will be the Global Intervention Excellence panel discussion and will feature senior wells managers from the leading national and independent operators globally, including ADNOC Offshore, ENI U.S., PETROBRAS, Saudi Aramco and Woodside Energy.

Other key focus areas for the OWI EU 2020 programme will include:

• An analysis of how North Sea operating strategies are changing and factors driving those changes
• A look at the focus on brownfield rejuvenation and the keys to unlocking this opportunity fully
• The influence of new, innovative technologies like data analytics and digitalisation and their role in driving efficiencies
• A spotlight on the Norwegian Continental Shelf

These discussions are delivered by the leaders in their fields, working at the vanguard of well intervention for the most influential stakeholders. The OWI EU 2020 class of speakers includes representatives from CNOOC, Chrysaor, Equinor, Repsol Sinopec, Baker Hughes, Helix Energy Solutions, Interwell, MADCON, Tios AS, TGT Diagnostics, Welltec and many others.

For more information on the event feel free to contact Tommy Angell on the below details.
Tommy Angell
Director | Offshore Network Ltd.
t: +44 (0) 203 411 9184 | e: tangell@offsnet.com

Read the article online at: https://www.oilfieldtechnology.com/special-reports/13032020/owi-eu-2020-positioning-the-north-sea-as-the-global-centre-of-excellence-for-offshore-well-intervention/