RESPEC Project

As part of a joint project team with Ernst & Young, RESPEC provided services that included developing and implementing a project management approach to improve the performance of special projects. RESPEC also provided technical support to the project teams to enhance the contracting, scheduling, and monitoring of projects as wells as their interrelationships.

Specific services included assisting in the development, evaluation, and award of an $8.7-million contract for a new workover drill rig. RESPEC also assisted Trinmar in evaluating, analyzing, and negotiating a $770-million contract for developing a portion of the lease block.

In accordance with International Accounting Standard (IAS) 37, RESPEC completed a detailed analysis of the environmental liabilities of the operation to define the scope magnitude and cost of the final closure of the operations, including pipeline removal, platform decommissioning, sand disposal, well abandonment, and surface facility removal. RESPEC prepared a risk assessment for Trinmar to determine areas of potential risk and the order of magnitude financial exposure. Overall, RESPEC provided several essential environmental and project management services that enhanced Trinmar’s performance and environmental compliance, while reducing its environmental risk.