Further to the article ‘Production Predictions Stand the Test of Time’ (01/03/2015), I now reflect on ETAP (Eastern Trough Area Project) statement of requirements (SoR) that I noticed was signed off for define in 1995, some 20 years ago to this day.
The 1995 SoR contained production predictions for the period between 1996 and 2020. I was curious to know if our predictions had stood the test of time, some twenty years on. Seeing the results, compelled me to share this with you as those involved in both the early stage/concept (pre-project) and project teams should be very proud of their work. I acknowledge the work done by Matthew Drayton in trawling through the DECC website.
What’s the purpose of this article?
This article has a number of objectives. The first is to remind the members of the early stage/concept team what we wrote back then and to show we seem to have been pretty good with our predictions. The second is to give general readers a small insight into the concept/early phases of upstream oil and gas developments, specifically the timescales involved. We in upstream spend a lot of (risk) money early on and it takes a while to get that money back.
You can read the full blog article here.