Energy Resources Development
GEG –Energy Resources Development brings the capabilities of large operating companies to smaller Independents through it's Drilling Management Department Within a consortium, GEG-Energy Resources Development coordinates and manages the individual drilling projects for a number of junior and established Operators, with the collective goal to cost effectively secure and share a drilling rig and third party services in a constrained market. Especially for those Operators scheduling a relative short and/or remote project, the cost of securing a rig for their project exclusively can be cost prohibitive.
Where each individual project may be uneconomic on its own or simply unable to access a suitable drilling rig and/or third party services, the combined drilling program of a consortium has a substantially larger bargaining power and more readily access to drilling units and other third party service providers. The facility to efficiently share certain costs within a consortium provides a major benefit to the consortium members of a drilling consortium.
In addition to the specific Consortium Management services, i.e. Contract Management, Consortium Representation and Consortium Administration, both Project Management and Well Engineering are integral parts of the service GEG-Energy Resources Development provides to the group of companies.
From early 1993 GEG-Energy Resources Development has managed several multi-operator consortiums in the eastern and western world using its personnel, and plan to be the leading provider of this service within the operational regions.
The group has the intention to enter dialog with existing operating companies with the intention to purchase mature assets in the Nordic Sea. Assets which are producing hydrocarbons which are not cost effective to the present operating company. With the lean management structure within the group, we intend to make these one time huge reservoirs productive again.
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