UK government revenues from oil and gas taxes have plummeted by more than 70% due to effects of the recent price crash and decommissioning repayments.
The decommissioning costs of oil and gas firms which have recently gone bankrupt or are in financial distress is near $15billion, according to new analysis from Boston Consulting Group (BCG).
‘There is a discernible gap between the rhetoric and the reality’: Fairfield Decom MD on decision to cease trading
Following the news that Fairfield Decom will cease trading, Graeme Fergusson, managing director, shares his thoughts on the sector and the immediate risks that it faces.
The director of Taqa decommissioning operations has said it is “poised” for significant activity in the coming months.
The cost of decommissioning in the North Sea has fallen to £46billion, however the Oil and Gas Authority (OGA) has warned that a “slowdown” means its target could be missed.
Troubled operator Hurricane Energy has announced the completion of decommissioning work to its Lincoln well, which it once hoped to develop, in the west of Shetland.
Australia is seeking expressions of interest for the Northern Endeavour FPSO decommissioning project. Significantly, this could provide North Sea players the perfect opportunity to get a foothold in the rapidly expanding Australian decommissioning market.
Australia is on the verge of its largest-ever wave of decommissioning as offshore development wells reach the end of their producing life. This is both adding headaches for producers and creating a multi-billion dollar opportunity for plugging and abandonment (P&A) suppliers.
Petrodec has offloaded a platform from the Perenco Amethyst field to a yard in the Netherlands for decommissioning.
Norwegian firms Aker Solutions and AF Gruppen intend to merge their offshore decommissioning operations into a 50:50 joint venture.
Thailand’s PTT Exploration & Production (PTTEP) is having difficulty accessing the Chevron-operated Erawan gas field to install production facilities as planned, ahead of a transition next year. PTTEP is now reportedly “losing hope” of gaining access before next April’s handover due to an unresolved legal battle with Chevron.
A top inspector says she has “no issue” with waste management firm Veolia’s handling of the Ninian Northern oil platform dismantling job after a union boss raised safety concerns.
Taqa says its plans to remove "attic oil" from the Cormorant Alpha platform’s huge concrete base will not be derailed by the removal of the topsides.
The top job at the environmental and decommissioning activity regulator for the UK offshore oil industry is up for grabs.
Working on an offshore Engineering, Procurement, Construction and Commissioning (EPCC) project for three years without a lost time incident (LTI) is an achievement.
Video footage has been shared online by Demolition News showing the Ninian Northern platform having its legs blown off with explosives in Lerwick.
A trade union boss has said the Ninian Northern platform, which had its legs blown off as part of a decommissioning project, now looks “really scary” and at risk of “falling over at any time”.
The amount of materials being recycled from UK North Sea oil platforms is far lower than previously thought, according to a new report.
Harbour Energy is sending the Balmoral platform to Denmark for decommissioning, the third UK asset to be announced for overseas yards this year.
Most UK adults want government spending on North Sea oil and gas redirected to renewables, according to a new campaigner survey.
The legs of the Ninian Northern platform have been blown off using explosives as part of a decommissioning project at a yard in Lerwick, Shetland.
A gas platform is scheduled to make the short trip from one Fife port to another ahead of its dismantling this week.
The Northern Producer floating production vessel is “expected” to be dismantled at Kishorn, according to the head of decommissioning at EnQuest.
A 20,000-tonne “eyesore” on the Cromarty Firth of more than 12 years is finally being removed as the huge Hutton platform legs are being taken to shore.
Taqa has kicked off removal work for the Brae Bravo, one of the largest decommissioning projects in the North Sea.