Decommissioning: beyond the challenges of oversupply, pandemic and recession


After weathering the storm that was the price collapse of 2014, the oil industry has again been hit in recent months by two new blows almost simultaneously: oversupply (caused by the failure of negotiations between Saudi Arabia and Russia to agree on production cuts and the aggressive response of the former); and a demand shock (reflecting the economic impact of the Covid-19 lockdown).


Video: Well-Safe rig ready for at least another 10 years


Well-Safe’s chief operating officer Matt Jenkins talks to Energy Voice about the company’s maiden asset, Well-Safe Guardian, during a visit to Nigg Energy Park, where the vessel is being refurbished. Read: Well-Safe ‘actively’ looking at more rigs as maiden purchase gets ready to hit the market