In the US waters of the Gulf of Mexico alone, there are 14,000 unplugged, non-producing offshore oil wells, according to a new study, which could cost $30bn to decommission.
Energy services giant Petrofac (LON: PFC) and Promethean Decommissioning Company (PDC) have formed an alliance to decommission three fields offshore Gulf of Mexico.
With a foot on either side of the Atlantic, Helix Energy Solutions has a good vantage point from which to cast a view across the global oil and gas market.
Apache Corporation has taken a hit of £326million ($446m) over decommissioning costs for Gulf of Mexico oil and gas assets it sold nearly a decade ago.
