A new tool has been launched which will help companies produce millions of extra barrels of oil through their North Sea operations.
Industry body Oil and Gas UK has announced the new resource will help companies identify and share best practice and information.
The organisation added that current data shows good practice and innovation could unlock more than two billion barrels of oil equivalent in near-field opportunities.
The Reserves Progression self-verification checklist tool is available of OGUK’s website which has been developed by a group supporting the Oil and Gas Authority (OGA’s) Assets Stewardship Task Force.
It is aimed at increasing the current oil recovery factor above 43% by identifying and re-evaluating potential opportunities.
Co-chair of the group, Katy Heidenreich, said: “Many of these opportunities may be marginal, technically difficult and geologically complex; this tool gives industry a consistent, integrated and systematic approach to progressing these resources and reserves.
“Improving our stewardship of these assets and collectively finding ways to increase the UKCS recovery factor from 43% means there’s an opportunity to add many millions of extra barrels of vital production using our existing infrastructure.”
The Reserves Progression Task Group is made up of industry leaders from operators Apache, BP, Ithaca, Premier Oil and Chevron, as well as OGUK and the OGA.
Fellow co-chair Tony McGarva said: “Companies can use the Reserves Progression checklist to identify, review and re-evaluate the potential opportunities for increasing oil and gas recovery in all aspects of their activities including reservoir management, well and production systems, and reassess where processes could be refined to unlock otherwise undeveloped reserves.
“With industry experts collaborating to develop this tool, it’s designed to be easily incorporated into current processes so helping to drive continuous improvement in performance.”