Business Growth

Anasuria Operating Company: Celebrating Two Years of Achievements

Today, 10^th June 2024, Anasuria Operating Company (AOC) marks its second anniversary as the duty holder of the Anasuria FPSO. Reflecting on the past two years, we take immense pride in our accomplishments and the transformative journey we have embarked on together. This year has been particularly remarkable, showcasing our commitment to excellence, safety, and innovation in the North Sea.

Operational Success

Over the past year, we have reached new heights in operational efficiency and environmental responsibility. We are proud to announce that we achieved our highest ever annual production efficiency at 91.56% and operating efficiency at 96.11% for the period from January to December 2023. These milestones can only be achieved with the continuous hard work and dedication of our exceptional team, who continuously strive to enhance our performance and ensure the reliability of our operations. This has been achieved by maintaining our operating costs at similar levels to those in 2018, instilling a culture of  continuous improvement, and removing significant waste from our business.

Environmental Stewardship

In line with our commitment to reducing our environmental footprint, at the end of 2023, AOC had reduced CO2  emissions from the Anasuria FPSO by approximately 40% over the last five years. This significant achievement is a result of our ongoing efforts to optimise plant operations and improve our monitoring and management systems. By implementing advanced technologies and rigorous environmental practices, we are not only meeting but exceeding our sustainability goals, ensuring a greener future for our industry and community.

Project Developments

One of the key highlights of the past year is the tie back options which are being progressed to the Anasuria FPSO.  With top quartile uptime and low operating costs achieved over multiple years, Anasuria continues to be an attractive host.

Enhancing Asset Integrity

We successfully completed a comprehensive mooring chains changeout campaign, a critical component of our asset life extension programme aimed at extending the operating life of our FPSO. This campaign was completed safely, and ahead of budget and schedule, confirming our commitment to maintaining the highest standards of asset integrity and operational safety. The completion of this project is a significant step towards extending the operational life of the Anasuria FPSO beyond 2035.

Technological Innovations

In collaboration with industry standards, we have revolutionised remote visual inspection by utilising  innovative remote desktop inspection workflow and vision software. We have successfully executed a visual inspection campaign using point cloud data and photographs. This has led to increased efficiency in data capture, reduced offshore resource requirements, and optimised data quality, ultimately reducing downtime and boosting productivity.

Process Safety Leadership

Process safety leadership has been a cornerstone of our operations. This year, we invested in our people through three separate visits to the DNV Spadeadam major accident hazard training centre, with over 25 attendees at each course. These training sessions provid a perfect blend of classroom discussions and practical demonstrations, fostering a deeper understanding of safety protocols and risk management. A highlight was an impactful presentation by Steve Rae, who shared his firsthand experiences from the Piper Alpha disaster, reinforcing the critical importance of process safety in our operations.

Additionally, we actively participated in OEUK events on process safety leadership, sharing our approach and learning from other industry operators. Our CEO, Richard Beattie, featured in OEUK’s winter edition magazine, discussing AOC’s proactive approach to process safety leadership and the significant progress we have made since taking on the role of duty holder for the Anasuria FPSO in 2022. We have also developed the AOC Process Safety Improvement Plan, emphasising the principles of leading, understanding, managing, and assuring safety in all our operations.

Looking Ahead

As we celebrate two years as the duty holder of the Anasuria FPSO, we look forward to continuing our journey of excellence. We are excited about the future opportunities and challenges that lie ahead, confident that our commitment to safety, operational excellence, and environmental stewardship will lead us to even greater success.

Richard Beattie, CEO of Anasuria Operating Company, said:

“This past year has been one of remarkable achievements and transformative progress. Our team’s dedication and resilience have been pivotal in reaching new heights in operational performance and safety. As we look ahead, we remain committed to safely driving growth, fostering innovation, and ensuring the longevity of our business. The future holds exciting possibilities, and we are eager to continue this journey with our exceptional team and valued partners.”

We thank our employees, shareholders, and partners for their continued support and dedication. Together, we are shaping a brighter future for Anasuria FPSO and AOC as a whole.

Anasuria Operating Company celebrates one year of transformation

Anasuria Operating Company (AOC) is proud to mark its first anniversary as duty holder of the Anasuria Floating Production, Storage, and Offloading vessel (FPSO). Over the past year, AOC has undergone an impressive transformation, focusing on safety, environmental responsibility, and operational advancements, while charting a promising path for the future.

Reducing emissions

We have implemented several plant optimisation measures aimed at reducing greenhouse gas emissions from the FPSO, resulting in an impressive 42% reduction in emissions since the beginning of 2019. By enhancing scrutiny on fuel gas consumption throughout the plant, significant reductions have been achieved in stripping gas requirements, flare purge, and blanket gas. To improve monitoring and measurement procedures, higher-spec flare meters have been installed, along with the implementation of a flare management procedure.

Asset integrity

Since becoming duty holder of the FPSO in June 2022, AOC has continued to invest in maintenance and improvement of asset integrity to ensure safe and productive operations. This commitment is evident in our remarkable achievement of over 99% uptime from January to June this year, the highest figure since acquiring the Anasuria FPSO in 2016. Additionally, we have successfully reduced maintenance backlog by approximately 50%, demonstrating our efficiency and focus on doing the right thing to maintain safe operations.

Safety and people at the heart of AOC

AOC’s dedication to safety was acknowledged at the OEUK Step Change in Safety Awards in September of last year. During the ceremony, the team won two out of six awards for Safety Rep of the Year and Operational Integrity. These accomplishments emphasise our unwavering commitment to fostering a safety-oriented culture and maintaining the highest standards of operational excellence.

Once again, we demonstrated our continued focus on safety by being selected as finalists in two categories at this year’s Safety Awards. George Demopoulos, a core team member on the Anasuria FPSO, was nominated for Safety Representative of the Year, while Nick McLeod and the Anasuria Welfare Committee were nominated in the Welfare and Wellbeing category. These nominations reflect AOC’s ongoing endeavours to prioritise the wellbeing of our workforce and promote a secure working environment.

As a joint venture between Ping Petroleum and Anasuria Hibiscus UK, AOC is strategically positioned to strengthen its presence in the North Sea. With a forward-looking approach, we recognise that people are our greatest asset. In addition to maintaining high standards in production, safety, and environmental responsibility, we are committed to continuously improving by actively driving growth and seeking professionals who share our vision for the future. Aligning with our commitment to maintaining and enhancing these standards, AOC actively seeks individuals with specialised knowledge and skills to contribute to the successful execution of projects. Recognising that the right talent is crucial, we value the expertise and capabilities of our workforce.

Flagship office move

To accommodate expanding operations and provide an even better working environment for our growing team, we recently relocated to new headquarters within the H1 Hill of Rubislaw complex. This relocation exemplifies our dedication to supporting operations and fostering a conducive work environment that enables employees to thrive.

Richard Beattie CEO of Anasuria Operating Company said:

“AOC has enjoyed an exceptional year since becoming duty holder of the Anasuria FPSO, but this is just the beginning. Becoming duty holder has given us the autonomy to shape the future of our asset at an accelerated pace, build new partnerships and implement improved working practices. This year has seen safe operations and our highest uptime since acquiring the Anasuria FPSO in 2016, exceptional performance from the team.

“In the last 12 months we have made great strides implementing material transformation right across our business. Empowerment, authenticity, and progression aren’t just values for our wall or our website – they are embedded throughout our organisation, and undoubtedly influence the collaborative ethos and focus on safe performance that enables our remarkable team of onshore and offshore staff to continuously deliver exceptional performance.

“We are enhancing that team with outstanding individuals who share our vision and want to shape their own roles to drive AOC forward.

“Looking to the future, we are fully committed to safe operations in the North Sea and continuing to build and strengthen our team Anasuria still has approximately twelve years left of production and I foresee exciting times ahead as we look for opportunities to extend that.”

Earlier this year, AOC underwent a comprehensive rebranding effort to establish its unique identity and enhance its practices. The objective was to define a distinct voice for the company as an independent duty holder. This rebranding encompassed the articulation of our vision, mission, and values, as well as the development of a new website.

In addition, we have recently successfully completed an 8-month project that involved transitioning all IT systems on the Anasuria FPSO from the previous duty holder, Petrofac, to AOC. This achievement represents a significant stride forward as we drive ahead with our transformation and business improvements.

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