The pressure to reduce production costs has pushed the oil and gas market to explore alternative solutions and methods.
Maximising the Economic Recovery (MER) of an oil field is critical to building a strong oil and gas business.
Ocean has always sought to reduce the cost of oil and gas production by use of their innovative solutions. Following recent re-analysis of the costs for their Sea Nova MFP and Sea Producer Buoys, Ocean has concluded that these offer the lowest cost per barrel in the industry - around $5 / bbl and $7 / bbl production costs respectively.
A recent development by Ocean is to add on a subsea storage tank to Sea Nova making it ideal for development of stranded oil fields in water depths up to 120m.
Sea Nova is already one of the lowest cost platforms and with this option it offers the market a lower cost option than FPSOs or FSOs.
The self installing concrete subsea storage tank is a development of the Condeep storage systems from the 1970's and is therefore a proven concept.
The Sea Nova Storage system is an exciting option for lower cost oil production in the current oil market.
Petronas Carigali Sdn. Bdh.'s Technical Governance and Assurance team have recently assessed Sea Nova and Sea Nova Storage under their TRL & PLTA system.
We are delighted to announce that they have granted Ocean a 7/7 TRL score for these products.
David Bone, Ocean's CEO, commented "This is a major step forward with Petronas and we are pleased to receive this score as we know that Sea Nova is a proven solution and well suited to Malaysian and the wider S. E. Asia Oil and Gas field E&P operations."
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