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United Kingdom : Belltree delivers major Oil and Gas Authority deal.

Expert upstream oil and gas consultancy, Belltree, has been successful in delivering a key contract for the Oil and Gas Authority (OGA).

Under the Authoritys Asset Stewardship Strategy, the OGA selected Belltree to develop recovery factor benchmarks for oil and gas fields on the UK Continental Shelf (UKCS), of which there are over 400.

The consultancy has a vast track record of developing and applying analogue field benchmarking techniques across the world and used these techniques to developa bespoke benchmarking tool designed to support OGA stewardship activities.

Additionally, Belltrees patented oil and gas benchmarking software, bMark, has been adopted by the OGA to help maximise economic recovery for the UK (MER UK). Adoption of bMark software shows that Belltree is an authoritative force behind benchmarking workflows in the oil and gas sector, currently.

Scott Robertson, Central North Sea Area Manager at OGA, said, The work product delivered by Belltree has helped us to produce our benchmarking report on oilfield recovery factor, which weve published today. The findings show that if, through improved stewardship, the OGA and industry can increase the focus on improving the recovery factor on selected prioritised fields, we could yield an additional 900 million barrels of oil.

Rod Clark, Managing Director at Belltree, added, The success of the OGA contract illustrates the manner in which bMark is helping to optimise portfolio management and asset stewardship for our clients worldwide. By highlighting fields that are underperforming with respect to their potential, benchmarking techniques allow value to be maximised, not just for private company portfolios, but also for oil and gas producing countries through enhanced asset stewardship.

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Publication:Mena Report
Date:Sep 9, 2017
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