"Small pools" a significant opportunity for oil firms, industry body says
New analysis released by the OGA says more than three billion barrels of oil remain untapped
The Oil and Gas Authority has described small pools'' of oil found in UK waters as avery significant opportunity'' for the industry.
New analysis released by the OGA says more than three billion barrels of oil remain untapped across the UK Continental Shelf (UKCS).
Of these, the majority are small pools'', defined as having less than 50 million barrels which are technically recoverable and are located in areas where existing infrastructure could be used.
A number of them lie further away from existing infrastructure and could require stand-alone type solutions'' for successful recovery, the OGA said.
Carlo Procaccini, OGA head of technology, said: We recognise the challenges operators are facing to develop these marginal oil and gas accumulations.
Small pools represent a very significant opportunity to maximise economic recovery from the UKCS.
Technology has an important role to play to reduce the cost of development wells, design optimised subsea infrastructure to existing host facilities and develop efficient standalone concepts.
We are committed to working together with the industry, the Technology Leadership Board and the new Oil and Gas Technology Centre, which has dedicated one of their solution ventures to unlock the small pools potential.''
The publication follows a series of events last year looking at small pool'' oil reserves.
These were led by the National Subsea Research Initiative (NSRI).
Dr Gordon Drummond, project director of NSRI, said: Small pools have a national importance in terms of achieving maximised economic recovery and they must be considered as an industry asset if they are to be capitalised upon.
Following an extensive mapping exercise, we now know exactly where these small pools are located and what is required to unlock their potential.
If the subsea industry can rise to the challenge of economically tapping into these pools, the North Sea could have a whole new lease of life.
Technology is only part of the solution, the industry must be much more receptive to innovation - there must be a willingness to work more collaboratively on multi-field applications and on access to infrastructure.''