Energy consultancy ADIL has seen demand for its services double as acquisition, merger and divestment activity by UKCS operators ramps up in the lower oil price environment.
The Aberdeen and London-based firm works with exploration and production companies around the world to progress projects to sanction and final delivery.
It has doubled the amount of early stage evaluation work year on year and delivered campaigns in excess of £1.5million since the start of the year.
Adil developments manager Lo Van Wachem, said: “There are a large number of complex packages of assets on the market, particularly in the North Sea. This gives rise to significant opportunities for companies seeking to understand the economics, risks and opportunities.”
Adil has provided its Accelerated Conceptual Engineering (ACE) services to companies looking to acquire existing discoveries or farm-in to exploration prospects.
The process helps to integrate subsurface, drilling, process, commercial and operations requirements to define a development option through field life, delivering capital, operational and abandonment expenditure costs for the options in line with the project maturity.
“The interest we are seeing across the industry for this type of service has never been higher, both from the large-scale operators and the new, smaller independent entrants,”said Van Wachem.
“Historically, the due diligence focus has been on the subsurface side, however there is a lot of uncertainty and risk related to the subsea and surface facilities in the current climate and identifying the areas to focus resources on is critical.”
Adil has been working with clients in the the Caribbean, Mexico, Africa and Europe in recent months.
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