Flexible manufacturing techniques make ultradeep water attractive to independents

08/25/2003
The increase in risk and capex required to exploit new gas and oil reserves in ultradeepwater areas is driving the offshore energy industry to adopt lean management tools and techniques.This is the fourth part of a series on lean energy management.1 2 3 The first three parts are posted in the archive at the Oil & Gas Journal website (www.ogjonline.com).The traditional net present value (NPV) approach behind most offshore investments and exploitation decisions must be replaced by real options evaluation techniques in order to recognize the full investment potential, especially for independents with limited global portfolios.NPV encourages rapid depletion of fields because of excessive futu...
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