Investors

Strategy

The UPB System is evolutionary, combining simple onshore production and storage philosopies with offshore buoy technology.

The Opportunity

To date there are proven offshore oil reserves worldwide of 500bn bbl. However the majority of new hydrocarbon discoveries are relatively small and development of these discoveries struggle to justify the production costs using current offshore production systems. If these small discoveries go undeveloped the rights to the acerage are at risk of being returned to the government owing the area.

These issues have led to the demand of a new solution in offshore oil production.

UKCS Market Oppourtunity

There is an estimated 25bn barrels still to be produced, mainly in smaller structures. There is an increasing demand and investment in the UKCS market and a record number of participants in 26th offshore licensing round.
The size of new discoveries in the North Sea is decreasing with 2/3rds of all field discoveries in the UKCS are less than 15MMbbl only 10% are greater than 60MMbbl. Also the fields are increasing in complexity so new solutions are required to ensure the maximum amount of oil recovered from the reservoir.
There is a growing presure for more economical and cost effective development solutions from the industry.
The UK Offshore Oil Industry is renowned for being at the forefront of investing in new technologies, with North American operators remaining keen to invest as the UK continues to be an attractive fiscal environment. The UK also remains on of the few places globally where open investment can occur.

Aisa/Pacific Market Oppurtunity

This relatively new area to the oil and gas market, is the fastest growing region in the subsea industry, which has a requirement for new technologies.
This market has many entrerpreneurial cultures and are quick to take opportunities and adopt new technologies quickly.