Oil and gas facilities in the Gulf States may be operating past their maximum capacity or beyond their lifespan, a leading energy expert has warned. James McCallum, CEO and co-founder of Senergy urged that investment is needed as old operating assets could be posing a potential risk to production, public safety and the environment.
According to the International Energy Agency (IEA), global energy demand is forecast to double by 2050 and large scale investment in reliable and safe equipment will be paramount to meet this demand.
Patrick Phelan, managing director of Aquaterra Energy said: “Aged equipment used at maximum installed capacity and under harsh environmental conditions presents a potential very real problem, not only for companies’ operations but workers’ safety.
“The Middle East is a strategic priority for Aquaterra Energy and presents excellent shallow water opportunities which play to our experience and strengths. The issues with aging equipment present more opportunities for companies like ours. Our team of skilled and experienced engineers have the expertise to design solutions with minimum design fatigue life of equipment in mind as well as considering harsh environmental conditions.”