Enabling more informed decisions about the market
When a leading independent exploration and production company was exploring opportunities for outsourcing, we developed a comprehensive feasibility study to underpin more accurate decision making.
Objective - To inform decisions around outsourcing activity
Our client wanted to consider outsourcing the operation, maintenance and support activities associated with one of its key assets. We needed to assemble a team of experienced practitioners to prepare a comprehensive feasibility study including:
• Opportunity definition
• Current state analysis
• Viable contracting options
• TECOP analysis for each option
• Financial benefit analysis
• Informed opinion and assessment of risk, risk mitigation and opportunities
Solution - A detailed feasibility study, prepared by specialists
We deployed a team with extensive expertise in the outsourcing of operations up to and including the Duty Holder model. With experience including the transition of operatorship for onshore and offshore facilities, including the contracting approach and operational readiness, we could provide a holistic view of risk and opportunity.
We adopted our proven approach crossing three distinct phases.
Step 1: Data collection
We identified, collated and reviewed all the client data required to create an accurate report. As part of this process, we conducted stakeholder interviews to align ourselves with the organisation.
Step 2: Assess and evaluate
We drew from our hands-on experience to evaluate a wide range of considerations on behalf of our client. These included:
• TECOP analysis on viable outsourcing options based on scope and market capability
• The range of contracting strategies available
• Potential timelines for outsourcing implementation
We were then able to assess each of these options and develop recommendations.
Step 3: Report and close-out
We prepared a detailed report including our findings and recommendations. This report covered:
• Technical and non-technical risks
• Human resource risks and opportunities
• Change management
• A detailed plan and resource schedule for execution
• Estimated execution costs
• Predicted outcomes in terms of OPEX, CAPEX and production
We also prepared a presentation pack to summarise our findings and recommendations.
Outcomes - The ability to make informed, expert decisions
We provided the company executive and board with a comprehensive report and presentation pack, based on the combined expertise of our practitioners. We also provided benefit economics and estimates which were within 5% of provider proposals when the contract ultimately went to market.
As a result, our client was able to make an informed decision about the best way forward for the asset – and make operational changes with confidence and certainty.