Improved projects execution and contract strategies. The Hyde experience

The conference paper deals with the obtained experience from the Hyde development project on the UK continental shelf. The industry is searching for more effective ways to develop North Sea oil and gas assets. Hyde, like many other projects, was uneconomic using current industry development and operation norms. BP, as a results, challenged its management to change the norms and achieve new levels of performance. The Hyde field was discovered in 1967. At that time, and until late 1991, it was assessed non-commercial. Between discovery and late 1991, gas prices increased in real terms but not as much as capital and operating costs. The initial BP challenge for Hyde was to make it commercial. The paper discusses the sanction phase, the mould breaking, and the project development breakthrough. 2 figs