Transforming well plug and abandonment – Call for Ideas
Over the next ten years, 1,400 wells in the North Sea will be plugged and abandoned. Using current methodologies, this will cost around £7 billion, up to 50% of which will be met by the UK taxpayer.
There is a massive opportunity here to reduce the cost of this non-revenue-generating aspect of the oil and gas industry. If we can free up the capital held on operators’ books to cover this eventual cost, then they can invest it now – plus the savings to UK PLC could be significant.
The Oil & Gas Technology Centre has c £1 million available to invest in new solutions to this problem and we need to hear ideas.
After this time, there will be a period of evaluation, in partnership with industry experts, with a view to drawing up a shortlist of organisations who can develop their ideas through to a project plan which we will support both financially and with expert guidance and mentoring. We expect these successful projects to be completed within 6-24 months.
Well plugging and abandonment is highly complex, so, in consultation with industry, we have identified three key themes for submissions:
- modelling the probability of hydrocarbon flow to surface
- verification of permanent barriers
- new materials and alternative methodologies to achieve well barriers
We invite submissions from all areas – academic institutions, commercial entities, individuals, R&D departments – it is a completely open innovation environment.
Submissions will be evaluated against a range of criteria including value creation, sound scientific principles, time, cost and risk reduction.
We look forward to hearing from you!