Rystad Energy has identified more than 200 projects globally where subsea boosting pumps to intensify well flow could make an immediate impact by increasing production profitably.
Rystad Energy has identified more than 200 projects globally where subsea boosting pumps to intensify well flow could make an immediate impact by increasing production profitably.
Using its new Subsea Processing Screening Tool, Rystad said that the increase in recoverable reserves for the top 100 projects averaged 61 million barrels of oil per project. For every extra barrel of oil produced due to subsea boosting, operators can expect a profit of $11.30 on average.
The average investment cost to apply the subsea boosting solution for the 100 projects is about $475 million. Nearly 50 of the identified candidate projects are in the US. The other countries in the top 10 list are Brazil, Angola, Norway, the UK, Guyana, Nigeria, Ghana, Malaysia and Suriname.
The 10 companies that operate most of these projects identified by Rystad Energy are Petrobras, ExxonMobil, Shell, Equinor, BP, Chevron, Eni, LLOG, Murphy Oil and Apache.
Framo Engineering (now OneSubsea) installed the first subsea booster pump on Shell’s Draugen platform off Norway in 1993 but since then only another 50 projects have installed boosting equipment worldwide.
‘Subsea boosting offers significant value creation, both for brownfield and greenfield developments, by reducing the wellhead backpressure at the seabed, which in turn accelerates production and increases total recoverable resources,’ said Erik Vinje, an analyst with Rystad Energy.
