Augean warns of £3m impairment on North Sea decommissioning wing
Waste management firm Augean expects to record a £3 million impairment in its 2020 results linked to the decline of its North Sea business.
decommissioning
Chapter closed on Buchan Alpha as remains broken down for recycling
The remains of the Buchan Alpha oil platform have now been broken down and sent for recycling, completing the final stage of the long-running project.
Long-awaited UK Government decommissioning paper lacks clarity on key issues
A long-awaited UK Government paper into oil and gas decommissioning lacks clarity on certain key areas, a trade body has said.
Spirit Energy gas platforms to be dismantled in Fife
A Scottish firm has clinched its maiden contract for dismantling offshore platforms at a facility in Methil, Fife.
Disused Irish Sea gas platforms to be removed by world’s largest vessel
A pair of disused gas installations in Morecambe Bay are to be removed by the largest vessel in the world this year.
Operators put off decommissioning North Sea wells for more than 50 years
New figures have revealed that some North Sea operators have put off decommissioning oil and gas wells for more than 50 years.
Downturn heightens risk of decommissioning liabilities ‘boomeranging’
More oil and gas companies are at risk of being left to pick up a defunct partners' decommissioning liabilities due to this year’s downcycle, new analysis indicates.
VIDEO: Well-Safe Protector rig arrives at Invergordon ahead of decom work
The newly-refurbished Well-Safe Protector rig has arrived at Invergordon to get it ready for work in the decommissioning market.
Managing decommissioning risk in M&A transactions
With $14 billion of commitments before 2024, according to Rystad, decommissioning costs have long been a risk to and blocker in transactions, especially portfolio and corporate deals. The sector has moved a long way since early stage bilateral decommissioning agreements as sellers sought to navigate Section 29 of the Energy Act 2008 and other commercial risks in pursuit of the “clean break”.
Updated: HALO acquires the Schooner field for ‘reactivation’ – but not its production platform
Hague and London Oil (HALO) has acquired 100% of the Schooner gas field in the North Sea but has not acquired rights to use the production platform to develop it.
New contracts, new Aberdeen base: Bilfinger Salamis buys into a brighter future
New contracts, renewals and the opening of a new Aberdeen base have been flipping the fortunes of Bilfinger Salamis after a stark start to 2020.
Repsol Sinopec hands in decom plans, but offshore work years away
Repsol Sinopec Resources UK (RSRUK) has handed in decommissioning programmes for the Fulmar and Auk North fields to the UK Government.
£100m decommissioning loan fund should get ‘serious consideration’ in energy white paper
The UK Government’s upcoming energy white paper should give “serious consideration” to a proposed £100m decommissioning loan fund, according to a petroleum economist.
Port told to flaunt decommissioning
Aberdeen Harbour has “hidden” its decommissioning credentials for too long and needs to raise its profile in the sector to secure a bigger share of the market, one of its bosses said yesterday.
‘Sharks and spaghetti monsters’: Questions linger on decommissioning impact to marine environment
Key questions on oil decommissioning and its impact on the marine environment could take “years to answer” according to a leading researcher.
EnQuest platforms doubling up as ‘Airbnbs’ to assist Thistle up-manning
An EnQuest boss said today that treating some of its platforms like "Airbnbs" was helping the firm prepare a northern North Sea neighbour for up-manning.
EnQuest ‘very interested’ in joint-operator decommissioning but ‘someone needs to take the lead’
The North Sea boss of EnQuest has said the firm is “very interested” in a joint-operator decommissioning approach, but “someone needs to take the lead”.
North Sea operators shelve half a billion pounds of decommissioning spend: OGUK
North Sea operators have shelved more than half a billion pounds of decommissioning spending, according to a new report from Oil and Gas UK (OGUK).
West of Shetland decommissioning spending on the rise
The total amount expected to be spent on decommissioning oil fields in the West of Shetland this decade has surged above £1billion.
North Sea oil industry ‘teetering on the brink’
A North Sea trade union boss has warned the oil industry is “teetering on the brink” due to a lack of activity and investment in the basin.
Oil industry ‘ripe’ for new decommissioning models but some won’t survive, says BCG
The offshore oil and gas sector is “ripe” for emerging new decommissioning models, however analysts BCG said they “strongly doubt” some will survive.
Shell gets UK tax refund, but pays over $1billion in nearby Norway
Shell paid billions of dollars in tax in 2019 to governments around the world. But in four countries, the energy giant got money back.
New tool for slashing well decom costs aces first live test in North Sea
An Aberdeen start-up firm’s technology for slashing oil well decommissioning costs has passed its first North Sea trial with flying colours.
How to be a top dog in decommissioning
With its prominence in the current news agenda there is no doubt that decommissioning in the North Sea has arrived.
HMRC boosts projected decommissioning tax relief for oil firms by £1.1billion
HMRC has boosted projections by £1.1billion for the amount of tax repayments it expects to give oil firms for North Sea decommissioning.