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If capex and opex can be reduced, and opex maintained at design levels through-life, with all safety and environmental design criteria met, then many marginal fields may become
economic and investable. When such fields reside in the D&P rather than
E&P segment, they may become especially attractive because the investment
to that time has removed considerable uncertainty and hence risk. These are the
opportunities MFDevCo seeks.
We can reduce project development costs in many
ways, standardising facilities and approaches, for example, Normally Unattended
topsides to reduce manning levels, self-installing,
redeployable structures to minimise subsea infrastructure and decommissioning
costs, and non-recourse project finance solutions that reduce the capital at
risk. We work closely with our Consortium members to develop, deliver and
operate projects to deliver economic and investable developments.
The transition to carbon neutral power generation cannot be achieved by flicking a switch. The technology to mitigate reliability and transportation constraints of renewable energy generation simply does not yet exist commercially.
Achieving the goal of carbon neutrality requires an evolution in technology and innovative project development that incrementally reduces carbon generation while delivering the sustainable, reliable power society demands. This is the basis for our gas2wire....cleaner2greener™ initiative; you can read more about the gas-to-wire and join the discussion at our gas2wire forum.
MFDevCo has created a gas-to-wire solution which can maximise economic recovery of stranded gas resources.
We use turbines installed on existing offshore platforms to convert recovered gas into electricity that is transmitted via subsea cable to shore, avoiding the inefficiency and cost of piping natural gas.
Gas-to-wire generates value for all stakeholders from remaining hydrocarbon resources, delivers secure, sustainable energy to meet the growing demand for electricity, and supports the transition to a cleaner energy future. Click here to read more about our gas to wire solutions.
News19 2019
Establishing GTW Project Financing Entity
Marginal Field Development Company (“MFDevCo”) is pleased to announce that it has signed a non-binding Letter of...
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