Nexant’s capability in upstream helps address “six big questions” spanning the entire life cycle of upstream oil and gas activity:

1. Where do we look?   Access and Exploration

2. What’s down there? Seismic and Drilling

3. How much is there?  Appraisal

4. How do we get it out?  Development planning

5. What do we need to build to produce it?  Processing Facilities

6. How do we know when to stop … and clean up? Decommissioning

Our upstream oil team offers a wide range of services to clients globally, providing strategic, commercial, technical, and market advice. 

As an independent consultant Nexant does not have any associations with any oil and gas companies, licensors or EPC contractors, allowing us to provide independent and impartial advice. Nexant is frequently involved at all stages of project development. This involvement includes:

  • Provision of project screening, pre-feasibility, and feasibility studies 
  • Independent technical, commercial, and environmental advisory support to Lenders in relation to numerous multi-billion dollar upstream projects
  • Independent M&A transaction support covering technical, market, commercial, and environmental considerations 
  • Business development
  • Independent resource assessment
  • Production and operations performance analysis

Nexant has a deep understanding of the upstream technical issues that ensure a successful project through:

  • More than 30 years’ experience in tracking technology issues from reservoir to burner tip
  • Depth of Experience in prospect evaluation, field appraisal and development, production operations, and decommissioning 
  • Capabilities in reviewing resource assessments, field development plans, Work Programmes and Budgets, capital and operating cost estimates, production performance, field operations, and field redevelopment operations
  • Providing support to projects for all levels of complexity from simple new well additions to complex multi-field developments both onshore and offshore 
  • Specialist skills in heavy oil resource assessment and field development
  • Technology development and commercialization

Nexant has a solid reputation providing robust commercial outlooks to test project viability, typically based on a review of the client’s:

  • Business processes
  • Strategic plans
  • Organisational structure and staffing levels
  • Licence conditions
  • Licence to operate concerns
  • Project management strengths and weaknesses
  • Marketing activities
  • Planning and budget processes
  • Relationships with host governments, suppliers, and other third parties

Nexant has experience in evaluating and articulating risk to project financiers in due diligence assignments and carries out pre-feasibility studies based on the following:

  • Primary objective of undertaking an independent review of the project on behalf of the prospective lenders
  • Nexant’s role is to evaluate and articulate to lenders the project and its associated risks
  • Nexant aims to work closely with lenders and sponsors to ensure risks are understood to allow appropriate mitigation
  • Nexant can leverage our understanding of the full value chain from Crude Oil, Refined Products, Energy, and Chemicals

Our upstream expertise includes a depth of experience with International/National Oil Companies, integrated oil and gas majors, mid-caps, AIM-listed companies, small public and private firms, and lenders to these projects.

Our extensive in-house knowledge of the downstream and petrochemical value chains ensures we are well-positioned to advise on commercial or technical aspects of further processing from upstream and allows Nexant a unique opportunity to advise across the value chain and from the benefits of integration.

Nexant recently completed a Red Flag review and due diligence report for a private investor group wishing to invest for the first time in oil and gas properties.  This involved Vendor management team interviews and assessment, full commercial and technical review of the target assets, an analysis of the major contracts, agreements and liabilities, generation of independent production and cost forecasts, and financial modelling