Costs of decommissioning the Greater Dunlin Area in the North Sea have increased by £25million in the last year, with the completion timeline slipping.
‘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.
Integrated decommissioning firm Fairfield Decom has confirmed it has ceased trading with immediate effect.
A “right assets right hands” approach to retiring North Sea infrastructure could benefit new decommissioning suppliers, according to an industry chief.
Heerema, owner of the world’s largest offshore crane vessels, has said squeezed prices have made a “very difficult business case” for the decommissioning market.
The offshore oil and gas sector is “ripe” for emerging new decommissioning models, however analysts BCG said they “strongly doubt” some will survive.
A group of operators is making progress on plans to work together on the decommissioning of oil and gas infrastructure worth billions of pounds that sits east of Shetland, an industry chief said.
The rise of specialist decommissioning firms could give the UK the edge in a global oilfield dismantling market worth £67 billion over the next decade, a new report said.
A new decommissioning company in Aberdeenshire is seeking out its first contract, saying their inaugural customer “needs to be as visionary as us”.
The managing director of a new Aberdeenshire-based decommissioning business has said he has already received interest from south-east Asia in the weeks-old venture.
An Aberdeenshire firm has joined forces with two major decommissioning contractors to launch a joint venture offering lower UK North Sea dismantling costs.