Our Most Powerful Tool
TSB uses the “Platform Abandonment Estimating System (PAES ®) for most of our liability estimates projects. The software was developed in the early 1990’s for Tax Litigation to provide detailed estimate documentation. It is upgraded regularly, most recently in 2018. Further updates currently underway, including SAAS (Software As A Service Capability).
PAES ® Capabilities
PAES ® was developed by TSB to provide reliable cost estimates for abandoning offshore vessels, platforms, pipelines, and wells.
- These estimates are used to establish methodologies and budgets for the eventual abandonment of offshore facilities.
- They are used for both ARO (Abandonment Retirement Obligation) preparation and in support of execution of decommissioning projects.
- The software has been used extensively in TSB’s operations worldwide, both in consulting and project management activities on behalf of a wide variety of clients.
- It is used by our consulting teams with long term clients in determining year-end financial reserves, tax reporting and abandonment budgets.
- It is also used to provide economic analysis for potential acquisitions and bonding limits.
PAES ® contains specific data profiling over 2,000 domestic and international vessels and platforms. Equipment rates are derived from actual projects and contractor supplied data, and is updated continuously. This cost data is stored in the system for all regions of the world.
Scope of Services
- Risk Assessment
- Acquisition and Divestiture Support
- Bonding Assistance
- Regulatory Assistance
- Expert Witness support (O&G Companies & Government Agencies)
- Third Party support to Insurance Adjustors, Attorneys & Investment Companies