Oil and Gas Field Economic Evaluation and Risk Management The Alpha field is a large recent offshore discovery at 100m water depth in Blocks 19/10 and 20/6, central North Sea. The field was discovered in June 2001 using the semi-submersible Ocean Safe Drill. The high quality Upper Jurassic turbidite reservoir lies within a stratigraphic trap at 7800ft to 9175ft below mean sea level. The reservoir has a low gas/oil ratio and will require pressure maintenance through water injection from the onset of production which is estimated to start in 2006. The oil consists of light sour crude (32 API, 1.4% Sulphur) with minor wax and asphaltenes. The field will be developed by three bridge-linked fixed steel platforms supporting the wellhead facilities, production facilities and living quarters and utilities. Production is anticipated to be carried out through 27 production wells, eight of which are predrilled and available for production in 2006. The remainder will be drilled in 2006 and 2007. Water injection will be carried out by 16 injection wells through 2 subsea manifolds. Four of these injection wells are predrilled and available for production in 2006, and the remainder will be drilled in 2006 and 2007. Oil will be transported via a pipeline link to the nearby Alice Pipeline System and surplus gas through a pipeline tie-in to Captain 'T' point on the UK Frigg pipeline system, both about 29 kilometres away from the Alpha location and have sufficient capacity. Oil production plateau is estimated in 2008 at around 185,000 bbl/d. Further details of projected costs of facilities and production, as well as information on the economic environment is presented in sections A to D. You are expected to write a report to cover the following milestones: Executive Summary: Literature review: 5 Marks Describe briefly environmental risk management in upstream sector of oil and gas industry. Relate your discussion to the Alpha field operational conditions.