International oil and gas firms have joined forces to explore whether a new reusable production buoy concept could help extend North Sea production by unlocking smaller oil and gas reservoirs.
The multi-partner study has been initiated by FPSO (Floating Production, Storage and Offloading) and Subsea specialists, Crondall Energy, who developed the technology and will be led and managed by Crondall’s subsidiary, Buoyant Production Technologies Ltd.
It will explore the feasibility of a floating Normally Unattended Installation (NUI) as a stand-alone oil production facility for marginal fields in a North Sea environment and kicks-off the Technology Centre’s recently-announced ‘Facility of the Future’ initiative.
The partners will evaluate a generic opportunity for a field in the Northern North Sea, in 150m water depth, producing 20,000 bopd of oil with a low to medium gas oil ratio. They will also evaluate how the lessons learned from this case study can be applied more widely in the development of North Sea marginal fields with, for example, a minimally manned compact FPSO.
The study will be conducted in two phases over eight months, evaluating the technical and commercial feasibility of the concepts developed.