Aberdeen–based upstream design, consultancy and engineering contractor, UniversalPegasus International (UPI), confirms a collaboration agreement with Upstream Advisors, a London based oil and gas consultancy firm.
The relationship will further establish both companies in the North Sea and global oil and gas markets offering complementary expertise and capabilities focused on new developments and investment markets.
Aberdeen-based Managing Director for UPI, Gavin Stevenson, said: “The collaboration with Upstream Advisors is a strategic one. We will be able to offer project development support from subsurface to facilities resulting in integrated field development plans and life cycle cost estimates, including decommissioning, which can support finance investment decisions and planning.
“The collaboration will allow our clients to make better informed development decisions with clearer economic returns particularly in the current challenging oil and gas markets. This ensures field development life cycle economics are more transparent, risks understood and mitigation measures implemented.”
London-based Upstream Advisors specialises in and delivers asset development, asset transaction and business consultancy services to its extensive list of North Sea and international clients.
Upstream Advisors CEO, Hiren Sanghrajka added: “We believe this offering allows UPI and Upstream Advisors to offer an independent solution focused service, delivering projects with realistic and risk assessed economic returns. As a result, the solutions developed by our alliance will provide high quality information easing the clients’ task in making difficult choices during the field development planning phase.
“This collaboration also allows both companies to strengthen market offering and alignment to support the early feasibility and concept stages of field developments. Key collaborative capabilities include reservoir and facilities services to support the field development planning and ability to conduct due diligence on existing ageing assets, allowing investors to make informed long term life cycle investment decisions.”
UPI is a well-established and accredited ENR (Engineering News-Record) engineering design and consultancy firm, which supports concept through decommissioning projects providing engineering design, consultancy and project management services.
Through UPI operations, it supports its clients in all the major oil and gas regions. The firm employs 1000 experts to service its clients globally, offering local knowledge and advice, when and wherever it is needed.
Adapted from a press release by David Bizley