In terms of operator exposure to aging fixed platforms, Infield Systems’ data shows that Perenco currently operates the largest number of offshore platforms within the aforementioned age range (17%), all of which are situated in the UK on fields such as Leman and Indefatigable. Perenco also currently operates three of the oldest operational platforms in the region (49 years), located at its West Sole gas field in the southern North Sea. IRM will likely increase as platforms are extended beyond their original design life. Historical high oil prices had enabled operators to extend the life of fixed platforms past their original design life. However, when the global oil price collapsed in 2014, the economic benefits of extending the life of some aging fixed platforms has likely become more difficult, which could prompt operators to evaluate their options for keeping aging assets at marginal fields in production.
–George Griffiths, Senior Energy Researcher, Infield Systems