Further to completion of a £260k Phase I Concept Commercialisation study, partially funded by the OGTC, Flexlife, together with our industry partners Axis Energy Projects Ltd., Global Offshore, Infinity Oilfield Engineering Ltd., Proserv UK Ltd. and Umbilicals International GB Ltd has begun work in preparation for detailed FEED studies into our innovative Umbilipipe reusable, low cost tieback system.
The Umbilipipe System comprises a reusable, standardised, integrated tie-back bundle containing a composite pipeline wound with all necessary umbilical elements within a single component. It also contains uniform, modularised, multi-slot manifolds capable of simple component changeout in situ, enabling specific field architecture design and infrastructure modification as the asset matures.
This concept is intended to reduce the CAPEX associated with small pool reservoir production by a magnitude of 40% when compared to the current industry norm. The concept is being designed to be applicable to 80% of small pools with tieback distance of ≤40km, equating to 1.85 mmboe or an additional $120bn of revenue. Estimated CAPEX saving of 60% over 5 projects, estimated at a saving of £255 million.
At this juncture we’re engaging with a number of small pool operators with a view to carrying out a combined FEED study to develop the design in accordance with numerous reservoir profiles.