An FPSO operation in the North Sea was carrying a cost base that no longer reflected the operational model needed for a declining field. 

The asset had been acquired from a third party that had designed the FPSO but was not structured as an operator, leaving multiple technical teams across the end client, contractor and operator reviewing the same issues, slowing decisions and duplicating effort.

We redesigned the commercial and delivery model around collaborative technical teams, drawing on the strongest capability from each organisation rather than allowing parallel structures to continue. A detailed review of contractor costs also identified a significant volume of recurring charges being claimed outside contractual entitlement. 

Commercial architecture reduced annual operating costs by £15 million, extended the operating life of the asset by four years and protected approximately £400 million of future revenue, aligning the commercial model with the operational reality of the asset.