Transcript

So as we all know, the UK and gas industry is facing some shared challenges with them, infrastructure that is currently operating well beyond their intended original design life. And yet some of these assets, FPS, OS platforms or subsea systems, they still have some value to deliver, whether you know it's extended production or deferring decommissioning. So these challenges. Pretty much depend on some of the key factors. One of them is mainly the asset life extension strategy. This will define how the projects are prioritized and also depending on how much the operators are willing to invest. It will also be related to some budget constraints. So you will see some operators referring the commissioning cost and try to maximize economic recovery and at the same time. They're looking and safe operations. So they have to they have to maximize efficiency at this stage and without forgetting the fact that some facing some pressures on you know achieving net 0 targets by 2050. So the first inside of this initial phase from you know, from broader point of view is a decisions cannot be just taken from technical side. They're more like a strategic ones, so. But you can see here, umm, some of the, you know, the breadth of scopes that are normally executed during late type operations. So you will see some of them related to technical integrity and risk management. So you will look at keeping the structural integrity and all projects focus on the risk based approach. There will be also some other type of scopes related to production and optimization and efficiency. So looking at all the bottlenecking studies, power optimizations and. There will be also looking to to use digital twins and predictive analytics and there will be also some other scopes related to cost and value balance. So you will extend, you will, you're looking to extend and the operation as much as possible to defer the commissioning cost. And you will be looking also to use existing infrastructure as a shared house. So, so you'll see here, I mean, you still need to get a proper approach to decide what's best for your asset. So how do we, the question will be how do we? Run the asset safely, efficiently and responsibly in this context of the late life. And I think this is when Chris management and decision making is critical. And I will ask now question to Sarah, since this is our head of decision and risk, how can we support operators these stage in them in the operational phase prior decommissioning and making sure I'm helping them to take the best decisions. Thank you, Monica. Well, we've probably all been in oil and gas industry long enough to know that it's a very uncertain and very complex industry. But I think for late life assets that has never been more so the case. There's a lot of ambiguity around both politically and economically. There's a lot of volatility, complexity in terms of what we're doing. These assets have been around for a very, very long time. And if the clients could have found us easy solution to some of their late life things, they would have done it. So we're no longer dealing with very easy problems. These are hard problems to solve for our clients. And also there's lots of uncertainty, particularly, you know, with with these late life assets in terms of the integrity, you know, what's left out there, how long can some of these things keep going? So, you know, there's a lot of things for our clients to to deal with and contend with. And, you know, there's a greater impact on these late life assets of these uncertainties aren't really managed and the stakes are are very high. And you know, our role in the decision and risk group is really to help our clients avoid these these missteps. So this is really in our sweet spot, you know, when there's tighter. Which is tighter timeframes, that's really when when we tend to get involved. So at the core of our offering is, is risk management and and facilitation and looking at some of these more complex problems that are really quite hard to solve. We do all sorts of things including running numerical modelling, risk sessions, that sort of thing and helping our clients to find a way forward. So what does that mean? So we really feel that making high quality decisions and spending time and making high quality decisions. And having a very robust risk management approach is really essential to avoid these costly missteps. You know, where we see our clients, what sort of things do we see them requiring? Well, we can help remove that ambiguity. And, and some of that comes from providing a really good upfront robust frame. I think we hear often nowadays that clients don't have time to spend on a framing, but for us, we can provide that scope definition very early on. Then it allows us to do our job quite quickly, efficiently, make sure that we're delivering the scope in the time frame. And within the budgets that they've got, you know, I, I hear often, you know, we've never got enough time to spend on upfront work, but we've always seemed to have time to redo the work again when we haven't quite got it right. We want to ensure that what we're doing is addressing the key issues again. So that's part of that robust frame is understanding really what our clients want. What do their stakeholders want? What are the, what are the questions that we really have to address to help them. And that's all about helping them get through gate reviews, getting their stakeholders on board. We need to understand what their drivers are. And seems fundamental, but often we don't and our clients don't understand that. So that's part of our role is to help help do that. And all of this, it helps us keep the costs down. And, and obviously running right throughout this is a really good understanding of risk management. Often risk management is seen as a tick box exercise to get you through the gate review. But for us, it's really important not just to identify the risks, but to work with our client and to help them identify what mitigating strategies and help them follow through. On that. So how do we do that? Well, very briefly, our two key kind of processes, if you like, that we have our decision quality, which used to be known as decision and risk analysis. I think decision analysis, but it's a structured framework that provides a very systematic structured approach to making these optimal decisions under uncertainty. It has many struck many facets to it framing, understanding what the key values and quite importantly trade-offs. And that's a key thing for late life assets. You know, there's never an easy solution. You're always having to make certain trade-offs, whether it's cost, schedule versus, you know, the quality, the of the repairs that you want to do, repair, replace. There's always going to be trade-offs and we can help our clients understand that. What we try and do is, um, not have A1 size fits all, but basically use whatever tools and techniques we think are appropriate to health solve the problem here. Risk management. Again, I'm gonna keep going on about this. It's not just a tick box. There are lots of risks, you know, integrity, asset issues, economic and regulatory. And I think a robust risk management process that's implemented throughout the project life is really important. I could go on talking about this forever, but I'm going to hand over to my colleague who is going to give you a lot more detail. Going to the technical aspects of the late life pull. Hi, good afternoon. Uh. I'm looking at it from a slightly different view. Uh. The risk and decision making for the Lightlife assets is all well and good, but at the moment what can we do now that is going to make that a lot easier now? The biggest way to reduce your OpEx cost is to reduce your maintenance costs. Now for those things, it's the removal of redundant equipment that is being sat and is still not being used. So the removal of that equipment can reduce your maintenance costs, as well as the removal of the long-term isolations and also rationalization of some of your distribution systems where there are switchboards with very little use that can be transferred over to other switchboards to get a more efficient use of electrical power and reduce your maintenance factor. Another big one going forward is obsolescence. People seem to just keep going along trying to repair and repair and not realize that. Some equipment is going to be out of date by the time they're gonna need it, so there needs to be a proactive look at what's actually going to be needed in the future and all of this. It's based around one thing that has not been very good in our industry for a very long time. Which is the good as building of your documentation, your systems? And also making sure that any asset modifications are done by the offshore team is actually included within documentation. Save you a lot of time in future when you come in to do major projects that you've got documentation that's there that you know is accurate and can be used up front. I pass you back over to Monica. Yeah. Well, um, well, I think, uh, that that's all that we have. It was supposed to be a brief conversation. You can maybe approach us later on for, for further discussion, but I don't know if there's any key, key take away that we can that we can finalize. Maybe I can start from a broader perspective. I think it's important to keep in mind that alignment requirement from asset life extension strategy from operator, I think that's key. So that will keep all the stakeholders in alignment. The expectations are and what the scope should be, how the scope should be done, which ones should be done 1st and that will avoid let's say further expenditure. You know, things that do we need to redo twice or three times because there is not internal alignment. So I think that's one of my first things. I don't know if you have any other. I'm just going to bang on my drum again about this, but you know, doing things like framing exercises, using some of the tools and techniques like decision analysis and risk management, it's a false economy to to not do these. I mean, I think now more than ever we can use some of these tools to really help our clients achieve things. So so do it. I think that's all. Thank you very much for listening to us.