Ziff Completes New Study

Thursday, July 02, 2009

Ziff Energy Group has completed the 7th edition of its Gulf of Mexico Deepwater Improving Field Performance (IFP) study, which evaluated pre-hurricane 2008 & 2007 operating costs for more than two dozen producing Deepwater assets. Participants included Deepwater operators, who collectively account for 1.1 million barrels of oil equivalent per day (MMBOE/d) produced in the Deepwater region of the Gulf of Mexico.

Ziff Energy’s study focuses on offshore fields located in greater than 1,000 ft. of water depth, which encompass the various development systems currently being used in the Deepwater Gulf of Mexico: Floating systems (including TLPs, Spars and Semi-submersibles), Jacket platforms, and Subsea tie-back systems. While hurricanes in 2005 and 2008 impacted production volumes and operating costs, the 12-month period analyzed in the 7th edition study (July 2007 to June 2008) was specifically chosen to avoid hurricane impact.

The 7th Edition analyzes unit operating cost data and features trend analysis on both field and company levels. “Ziff Energy’s database of historical costs in the Deepwater, which goes back to the early fields operating in l998, allows Ziff Energy to examine cost trends over a decade, covering the life cycle of a number of fields. The study analyzes effectiveness of chemical and well servicing programs, boat vs. helicopter strategies, and production optimization,” said Project Leader Tom Gray.

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