As established operators look to divest their “brown-field” assets, new operators are jumping at the opportunity to purchase and extend the life of these fields. Deals in the UK sector alone surpassed $8 billion in 2017. However purchasing an asset and taking on operatorship is a complex process that requires robust due-diligence and a well-considered transition plan to ensure that production goals are achieved.
Critical aspects are a clear understanding of the condition and life expectancy of assets, realistic CAPEX and OPEX estimates, identification and management of risk and the post purchase strategy to maximise production and identify new revenue sources.
Download our latest guide which identifies the challenges, risks and solutions to help you deliver a successful asset transfer project. You’ll be given a full run down of what’s required for a successful transition plan, from regulatory compliance, people and management systems to reservoir management, asset integrity and decommissioning liability.