Case for Action
Multiple gas fields have been discovered in the shallow waters of the Gulf of Guinea over the past several decades; however, few, if any, have been developed thus far. The client has interests in two such fields, both determined to hold economic volumes of sweet, dry gas, with an expectation of high well productivity. The client wishes to develop these two fields at the present time but has partners with different priorities for their respective development portfolios, and different concepts for development of these two gas fields in particular. Each of the client’s partners have a participating interest in specific gas sales solutions (in this case LNG plants), and the client does not. Thus, the client and partners have different drivers in terms of development concept selection, gas sales price requirements, and urgency to proceed with development.
The client requested Endeavor Management to support client’s efforts in developing realistic and competitive field development concepts to be taken forward in alignment with the partners into a subsequent, formal Concept Selection exercise. The client requested that existing studies and previous experience be used to the maximum practical extent to conserve cash for the Concept Selection exercise.
Endeavor Management Solution
Endeavor Management addressed the client’s request to provide alternative field concepts while keeping the professional services costs as low as practical as follows.
Endeavor Management provided the client with feasible, competitive field development concepts, suitable for inclusion in the subsequent Concept Selection exercise. The quality of the concepts placed the client, for the first time in decades, to be in position to reach a Final Investment Decision with its partners on development of the two gas fields in a timely fashion.