Strategy
Since its inception, Fairfield’s strategy has been and continues to be based on two distinct and compatible approaches:
(i) Acquiring and developing mature producing assets with significant upside potential. These types of assets are likely to be acquired from larger companies looking to rationalise their portfolios as they pursue new investment opportunities elsewhere in the world; and
(ii) Acquiring and developing undeveloped discoveries or redevelopment assets in need of technical focus and capital. These types of assets may be acquired from smaller companies without the necessary technical or financial resources to develop them or from large independents or Majors looking to rationalise their portfolios.
Fairfield employs the following tactics to support its strategy and to create value from its assets:
Controlling key assets through operatorship
Fairfield aims to operate the majority of its assets in order to retain control over key elements of value creation.
This provides for a high level of quality control and a thorough approach to project work. Where appropriate, and as evidenced in Clipper South, Fairfield will seek to bring in partners, via farm-ins or direct sales of equity interests, where the addition of another partner can add value through its particular technical abilities or commercial capabilities.
Utilising a “Core Area” approach to lower resource development costs
Fairfield seeks to apply a Core Area approach to lower overall resource development costs, to maximise operational and cost efficiencies and to leverage economies of scale. Through this approach, Fairfield seeks to underpin each Core Area with a material foundation asset, acquired on the basis of known hydrocarbon resources and is augmented by relatively low risk development, appraisal and exploration opportunities that are located in the area. These appraisal and exploration opportunities are regarded as low risk due to their proximity to known hydrocarbon reserves and thus their relatively high probability of success.
Fairfield aims to focus its development and exploration activities around each foundation asset in a Core Area, in order to ensure that new discoveries have access to shared infrastructure at minimal incremental cost, while maintaining a portfolio which is balanced across the life cycle of the assets.
Applying its deep knowledge base of the UKCS and strong technical capabilities
The application of in-house expertise in multiple disciplines is integral to Fairfield’s strategy. It has expertise in a wide range of important disciplines, including reprocessing, reinterpreting and enhancing seismic data, static and dynamic full field modelling, drilling/well simulation, project planning and decommissioning.
Fairfield seeks to apply these extensive technical capabilities and its knowledge of the UKCS to maximise production and the recovery of hydrocarbons from its resource base. The carefully selected and innovative application of appropriate technology is integral to Fairfield’s ability to create value.
Operations
Fairfield's strategy is to focus on the creation of value in selected blocks which we call Core Areas.
Find out more
CSR
Fairfield operates a socially responsible and safety conscious business with the highest regard for the environment.
Find out more
News
Fairfield Energy believes it is essential that its stakeholders, partners and the wider public are kept abreast of its activities.
Find out more
Contact
If you would like further information or have a general enquiry, we would be delighted to hear from you.
Find out more