Struan Energy has brought together an exceptional team of energy professionals to develop this late life and decommissioning enterprise.
Struan Upstream has the financial backing of a major international investment fund to acquire offshore hydrocarbon production assets.
The purpose of the venture is to establish a company that manages oil and gas production installations in the last few years of production and then closes down and decommissions those installations. The value proposition is that through reduced overheads, operating costs and reduced decommissioning risks, the asset can be acquired from major corporations for mutual advantage.
As the business model is proven to be successful, additional installations will be acquired, increasing the size of the overall portfolio and creating a rolling program of decommissioning projects. In this way the company will benefit from economies of scale and specialisation.
Specifically the company will:
- Become a duty holder in order to maximise control over the management and expenditure of oil and gas production.
- Focus on the Southern North Sea where decommissioning is cheaper since wells are simpler and platforms smaller than in the Central and Northern North Sea.
- Start by purchasing a small portfolio of producing assets which will then be added to create a rolling programme.
- Build a portfolio over the next five years.