Enegi Oil marginal field delivery consortium

Enegi Oil has provided a further update on the Marginal Field Initiative of ABT Oil and Gas Ltd. ABTOG has signed a Collaboration Agreement with Apollo Offshore Engineering Ltd. who will join the Marginal Field Delivery Consortium providing expertise in the structural engineering of ABTOG’s current and future solutions. The Agreement adds Apollo to Kongsberg Maritime and Braemar ACM Shipping as members of the Marginal Field Delivery Consortium targeted at the delivery of marginal field projects.

The Agreement with Apollo allows ABTOG to work exclusively with one organisation ensuring that the intellectual property and knowhow generated in any particular project is not widely circulated leading to economies of scale for future projects for the benefit of ABTOG and its partners.

ABTOG is already working with Apollo on its current solutions and on expanding its solution portfolio in both fixed and tethered solutions, with the aim always being to keep capex as low as reasonably practicable whilst ensuring that any solution will be able to be normally unattended keeping opex to a minimum. The results of this work will be investigated, in line with ABTOG’s intellectual property strategy, to ensure that any ideas are suitably protected for the future benefit of the venture.

ABTOG is already seeing the benefits from its previously announced agreements with Kongsberg and Braemar and expects to be able to announce further collaborations in the coming weeks including in the areas of process engineering and project management.

After extensive discussions with Wood Group PSN an agreement was unable to be reached with respect to the previously announced Memorandum of Understanding and discussions have now ended.

Alan Minty, CEO & Chairman of Enegi, commented:

“We are delighted that Apollo has agreed to join the Marginal Field Delivery Consortium. Their structural engineering expertise will be invaluable in ensuring the delivery of our solutions and in helping us to create additional solutions which will further enhance our offering in line with our strategy of reducing capex and opex to enable the development of projects.

Sadly, agreement was unable to be reached with Wood Group PSN, but we believe that with the members we already have and those we are in discussions with we are creating a consortium with the ability to provide a “one stop shop” to deliver our Marginal Field Initiative and look forward to working with Apollo and the other members of the consortium to take this venture forward.”

Jonathan White, Business Development Director of Apollo Offshore Engineering, commented:

“We are extremely delighted to be working with the MFD consortium and ABT Oil and Gas to develop robust, cost effective solutions for marginal and stranded reserves. There is still significant potential in the North Sea and beyond for innovative production solutions that will allow operators to extract reserves both efficiently and effectively. ABT Oil and Gas have recognised Apollo’s expertise in effective and innovative engineering for fixed and floating assets that will be applied in this project.

Apollo’s dynamic approach coupled with its experience will be an important element to the MFD consortium where we can apply some of the technology we are already developing for ABT Oil and Gas. This is exactly the type of approach and technology our industry presently needs for continued investment to unlock marginal reserves.”

Published on 07/05/2015


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