Oil firm Apache North Sea has become the 300th member of industry body Subsea UK.
The organisation representing the UK’s £9billion subsea industry said yesterday the milestone came amid continued growth in production from UK subsea wells.
“It demonstrates the reach and depth of our representation across the sector’s entire supply chain from oil and gas operators to small, niche technology companies,” said Subsea UK chief executive Neil Gordon.
“Our members account for around 90% of the overall revenues generated by the industry in the UK.
“Almost 45% of UKCS (UK continental shelf) production comes from subsea wells, with this expected to rise to 70% in the medium-term.”
Apache is the UK North Sea’s fourth largest oil producer, with much of its output generated from a subsea portfolio of more than 40 wells and 120 pipelines.
The firm’s subsea infrastructure continues to grow, with major development work in progress to expand existing assets and bring on new fields.
Gordon said Apache was an “ideal example” of an operator using existing infrastructure to successfully bring the smaller fields such as Bacchus, Maule and Tonto into production in a highly cost-effective manner.
“With major operators focused on high risk, high reward models, maximising recovery in smaller reservoirs is a challenge which the independent, niche and specialist operators within the industry are keen to take on and achieve,” he added.
“With decommissioning liabilities changing and a number of assets in the province for sale, we expect to see a significant shift in the industry.
“Our role, as ever, will be to ensure that our members are able to make the most of the opportunities that this will afford.”