INDUSTRY NEWS Leo Sollano


An example of extending life of field is Baker Hughes’ long term and portfolio view, where we apply intelligent reservoir management models to focus on both known and increased recoverable reserves. This approach has led to deploying smart completions and tailored liquid foam technologies through interventions, enabling us to double recoverable reserves and extend field life by 10 years.


On a greenfield development, meanwhile, technology can provide the sort of state-of-the-art investment that maximises returns and minimises risk.


But thinking differently is also key in the face of a market in flux. For example refurbished subsea hardware – recovered and inspected before being redeployed in a fraction of the usual lead-time and at a reduced cost – have been an attractive option for independents in particular but could have a role to play across the sector.


The driver in all circumstances is to make the most out of existing infrastructure, to reduce the carbon emissions across all assets, and to produce a positive economic profile.


suspects in terms of partners and alliances, to finding ways to succeed rather than looking for excuses not to try.


The supply chain also needs to rediscover a sense of accountability lost through sometimes over-complicated organisational structures, needs to be smarter rather than dogmatic in the face of what might be considered an uneconomic project, and needs to expand its capabilities to meet diverse customer expectations.


Finally, breaking down internal barriers is about acknowledging the imperative of the energy transition and the increasing electrification of society while understanding – and communicating – that hydrocarbons have an essential role to play in getting where we all need to go.


None of which will happen in isolation. The supply chain and customers can work together to tackle what is required: long-term contractual agreements with cost and revenue built in, that allow development of a team that facilitates growth, productivity and efficiency.


Boxing clever Technological advances in the subsea supply chain are also central to achieving the sorts of industrial transformation required in oil and gas – on an existing asset, it can be the equivalent of fitting gas and electric to a log cabin to extend the useable time during the year.


Which is important. Nearly 50% of producing wells will be older than 15 years by 2025, up from 33% in 2020, and the life-of-field issues raised will challenge production profiles, carbon emissions and baseline economics.


Flexible friends There is no question that the oil and gas supply chain is being pulled in multiple directions all at once: changing economics, a shifting regulatory environment, electrification and other emission reduction measures, market fluctuations, pandemic impacts and post-covid demand spikes.


And all of these, of course, are taking place against the background of longer-term energy security issues only exacerbated by shorter-term geopolitical events.


What is required is commitment – to engaging meaningfully with customers to help overcome the challenges, and to leveraging proven expertise and technological innovations to smooth the peaks and troughs of a market in transition.


This is not necessarily just about subsea trees, or about flexibles, or turbomachinery. The supply chain needs to deliver a portfolio solution that encompasses a breadth of capabilities from manufacturing through to management, on a full-field basis.


And the entire industry will benefit. Transformation of energy can only be achieved alongside transformation of the supply chain.


Baker Hughes is among those who believe that presents an opportunity, that the drive to adapt and improve – across technology, manufacturing, quality and project management – is in the interest of everyone in oil and gas.


May 2022 www.sosmagazine.biz 15


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