Other News

New firm says decommissioning is not a “dirty word”


North Sea decommissioning is being held back by a reluctance to accept oil and gas installations will not last forever, an industry expert said yesterday. David Haywood, project adviser at STC Global, an Aberdeen-based design and learning solutions firm, said decommissioning was no longer a “dirty word” and companies should not be embarrassed their assets will cease to make money at some point. Mr Haywood, who has worked for Mobil, Shell and CNR International in an oil and gas career spanning more than 20 years, also said fears that an acceleration in decommissioning could leave viable oil and gas reserves stranded were overstated.

Other News

US Bureau to call for decommissioning costs from owners


The Bureau of Safety and Environmental Enforcement (BSEE) in the US said owners of operation rights will be required to submit their expenditures for decommissioning of wells, platforms and other facilities. The move will affect sites on the Outer Continental Shelf (OCS) as part of the final decommissioning costs rule.

North Sea

North Sea decommissioning expenditure to hit £17bn over next decade


The UK oil and gas industry’s decommissioning sector is growing at a steady pace, with total expenditure expected to hit £16.9billion over the next decade, a new study shows. Oil and Gas UK (OGUK) raised the forecast from £14.6billion a year ago, citing an influx of 47 new projects into its 2015 Decommissioning Insight survey. A total of 79 platforms are now expected to be removed across the UK continental shelf by 2024, according to the poll, which was launched at the Offshore Decommissioning Conference in St Andrews.