IO’s ‘integrated asset approach’ methodology for BP

Two consulting engagements apply ’systems thinking’ to capex reduction.

IO oil and gas consulting reports delivery of two studies for BP using its ‘systems thinking’ approach to reduce capital cost and improve project scheduling. IOOG is described as an ‘independent venture’ backed by GE Oil & Gas and McDermott.

An initial feasibility study for BP led to improvements in a project’s concept, reducing costs and accelerating the schedule. Following the initial work, a follow-up contract was awarded that leveraged IO’s Integrated asset approach. The IAA methodology covers the whole production lifecycle from reservoir, production infrastructure through to delivery point.

IO CEO Dan Jackson said, ‘IAA has systems thinking at its heart. The approach is a radical shift in the industry bringing increased likelihood of a positive investment decision.’ BP VP Adrian Luckins added, ‘IO is a fresh new player in the market and we are seeing real value in their expertise.’ IO boasts ISO 9001:2015 certification for its quality management system and ISO/IEC 27001:2013 IT security and information management accreditation.

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