New Field Development Challenges in Late Life Setting.
Billy Macrae, TAQA
Abstract:
2014 was one of the highest years of development CAPEX spend on record in the North Sea, and at the same time the oil price experienced a dramatic and largely unforeseen drop. This led to projects already commissioned being exposed to additional pressures in a mature basin where targets are smaller, reservoirs more complex and profit margins tighter. This is the story of the Cladhan field, a major, near-field, subsea development, commissioned in a high oil price, high cost climate and subsequently producing in a low oil price, low profit environment. Projects of this type play a key role in the sustainability of the North Sea. Understanding how these fields have been developed and the challenges and learnings associated with them are important if we are to maximise the economic potential of the UKCS.
Biography:
Billy is currently a geologist with TAQA, based in Aberdeen. Having worked in a variety of positions covering exploration and development, his primary role has been the development geologist for the Cladhan Field development project.
He graduated in 2004 from the University of Aberdeen with a degree in Petroleum Geology and entered the industry in 2006. Prior to joining TAQA he worked for GCA consultancy in Aberdeen and briefly Malaysia as a geologist. Earlier roles saw him working in data management, technology development and software support consultancy across a variety of operators throughout the EMEA region.
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