Asset Transition - NEO’s Acquisition of Quad 15/30 Assets

About the client

New European Offshore Energy is an independent full-cycle energy business in the UK Continental Shelf (UKCS). NEO combines value creation from the prospective North Sea basin with a commitment to be a responsible and efficient business. NEO operates a high-quality asset base with significant scope to grow production organically by extending asset life. NEO Energy’s strategy is to build a leading producer in the UKCS through operational excellence and a combination of organic and inorganic growth, underpinned by a culture of continual improvement. NEO is targeting production of 100,000 BOEPD in 2022 and continued growth beyond.

 

Business Challenges

In 2020 NEO completed the acquisition from Total of a portfolio of operated and non-operated assets in the UK North Sea. The transaction includes NEO’s operatorship of two asset clusters, the Quad 15 and Flyndre areas, and an operator organisation of more than 60 highly experienced employees and contractors. NEO appointed Sword to undertake the associated IT transition work.

This focused on:

Operational continuity first

Minimising change

Standardisation & Cloud-first strategy

Reduction of vendor risk

 

Results

Sword helped NEO procure, design and install IT services and hardware to operate the assets as part of NEO. Partner organisations such as Ping provided communication and telecoms services to ensure NEO had offshore telemetry, public address and communications to operate safely and effectively, all managed by Sword. Significant time and effort went into building a Microsoft SharePoint system to support the project activities and house well over one million GDPR-compliant records, replacing ProArc, LiveLink and Documentum systems. This included 32 new workflows and meant simpler operations, reduced software and support costs.

What the client says

We chose Sword as our IT transition partner as we valued their experience on the UKCS. We were delighted that Sword helped us through a complex transition journey and delivered our collective goal of a successful IT transition, without adversely impacting ongoing business operations.

Jonathan Davis, NEO's IT Director

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