Thanks to DNV, BP is finding success in sustaining profitability in mature North Sea oil fields using a risk-based approach.

BP is reengineering the operation of the Ula and Valhall fields in the North Sea. DNV Consulting’s vision and proven track record of "safely and responsibly helping its customers improve business performance" made it a natural partner for BP in this case.

Declining oil and gas reserves in the North Sea have driven operators to evaluate alternative scenarios, including sales, outsourcing, changing or re-engineering installations, as well as enhancing the effectiveness of their organisation.

To meet the requirement of reducing operating expenditures by 30 percent, BP decided to start a wide range of improvements in the organisation. As part of this process, BP is selling the Gyda field to Talisman Energy and is re-engineering the operation of the Ula and Valhall fields.

DNV has assisted BP by performing risk-based screening and analysis of activities related to production support, both on land and offshore. DNV has provided solutions to streamline work processes and technical modifications to reduce annual operating costs by as much as 10-15 percent.

The use of risk-based methodology has proven
to be a very effective means of:

• Ensuring that high health, safety and environmental
  standards are sustained and leveraged
  throughout the change process
  
• Identifying substantial economic opportunities
  
• Involving the organisation in the change process

Together, BP and DNV are now preparing to implement the identified opportunities by developing new and more effective processes for BP’s new onshore organisation in Norway.