AGR’s iQx™ Software to Assist CODA’s ambition of reducing well decommissioning costs

Source: press release, 23 March 2021

VP APAC of AGR, Andy Perchard (photo: AGR)
VP APAC of AGR, Andy Perchard (photo: AGR)

Following the recent establishment of the Centre of Decommissioning Australia (CODA), energy consultancy AGR has announced that it is expanding its well management support to client decommissioning projects as a response to increased activity within the field. CODA reports that there is over USD 50 billion of decommissioning work in Australia over the next 50 years, over half of which will commence within the next 10 years.

AGR, which has been heavily involved in the inception of the initiative launched by National Energy Resources Australia (NERA), said it will combine its vast international and regional well decommissioning experience with its own propriety iQx™ software to reduce costs and improve collaboration for its clients in Australia and worldwide.

Over the past 30 years, AGR has amassed significant experience in the Well Decommissioning market having worked in some of the most challenging environments across the globe with a wide variety of operators, national oil companies and government bodies. Locally in Australia, AGR has provided well decommissioning services to a number of operators. These services range from full project management through to various plug and abandonment studies, basis of design, time cost estimates and regulatory approvals. AGR has a proven track record of reducing costs for its clients by providing access to a multidisciplinary team and through the application of existing knowledge of the abandonment challenges associated with the major basins offshore Australia.

To further enhance AGR’s value proposition, a new approach using iQx™ P1™ software, has been developed to assist planning for abandonment campaigns.

Andy Perchard, VP APAC of AGR, comments, “The unpredictable nature of abandonment and intervention operations presents complex challenges in comparison to exploration and development drilling operations. iQx™ P1™ software fits well when planning well abandonment operations as it provides probabilistic modelling as an effective tool to generate a deeper understanding of the risks and costs associated with projects. When used effectively, probabilistic modelling provides tools for assessing the multiple methodology options available and selecting the optimum abandonment method, ultimately reducing costs.”

“The application of iQx™ combined with AGR’s vast wells decommission experience and transfer of lessons learned across multiple projects will add significant value to CODA in its ambitions of reducing costs by 35%,” adds Perchard.