In development engineering, LR operates primarily in the Identify, Assess and Select phases of asset development, also known as Front End Loading - FEL1 and FEL2.
We regularly execute due diligence for potential acquisitions, typically working alongside our subsurface, wells and commercial colleagues, where we review operating assets, projects under progress, developments in planning and help assess exploration upside potential.
What we offer
Our multi-discipline experience allows us to identify the risk profile of each opportunity being assessed and construct Capex, Opex and Abex profiles for a range of scenarios. These profiles can be benchmarked against an extensive database increasing client confidence through pairing a bottom up estimate with top down comparisons.
Our work leverages a number of core capabilities in LR, including:
- Exploration and licensing round support
- Front end engineering
- Cost estimating and benchmarking
- Decommissioning assessments
- Schedule assessment
- Economic evaluations
- Project management
LR also provides reports to financiers, this can be independent reviews of ongoing projects or an appraisal of a marketed asset in order to provide the bank with a comprehensive assessment of the costs, risks and opportunities
What are the benefits?
Customers receive advice and assurance. We provide our clients with the analysis and conclusions they need, giving them confidence that the correct decisions are being made. This gives customers a robust appreciation of their risk profile, including future expenditures and returns.
Why choose LR?
Our development engineers are comfortable dealing with the inherent uncertainty in assessing reserve and resource ranges. We are able to generate viable concepts suited to a wide range of reserve outcomes. Our independence allows us to advise on the applicability and maturity of new technologies and assess the benefits that these may bring to a development.
We have a proven track record of advising National Oil Companies (NOC) and also with public bodies and policy makers such as the UK's Oil & Gas Authority (OGA), the Cyprus Hydrocarbons Company (CHC) and The Crown Estate.
Who we work with
We help businesses across dozens of sectors push forward and achieve like never before. How can we help you?
Advancing energy integration for the OGA
Lloyd's Register's report for the Oil and Gas Authority explores upstream opportunities in UK waters to cut greenhouse gas emissions.