In 2015, Petrorio, a leading oil and gas industry player, engaged RESL to provide a decommissioning cost estimate of a complex deepwater Floating Production Storage and Offloading (FPSO) unit as part of an asset acquisition assessment. An accurate understanding of the long-term financial implications of an acquisition is critical to ensuring sound investment. The project demanded a detailed analysis of the complexities of a complete offshore system, requiring a thorough understanding of the challenges and costs associated with each component.
The scope of work was extensive, covering a wide array of subsea assets:
• The FPSO itself: Including the intricate turret, swivel, and mooring systems, along with the STP buoy and its associated moorings.
• A complex network of risers: Multiple dynamic, flexible risers used for production, gas lift, and water disposal required careful consideration.
• Extensive Subsea Infrastructure: The assessment also included the multiple subsea facilities, export and in-field pipelines, flexible and rigid risers, mid-water arches, and umbilical.
RESL meticulously reviewed all available data, developed outline methodologies for each stage of the decommissioning process, and developed customised compliant solutions for each asset component. The assessment included the physical removal of the assets and the crucial steps of cleaning and disconnection, ensuring environmental responsibility and adherence to best practices. This detailed decommissioning cost estimate allowed Petrorio to confidently make informed decisions regarding the acquisition, and optimise their financial models, understanding the liabilities of the eventual decommissioning process.
