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Price woes have created a decommissioning maelstrom in the North Sea

Tim Haïdar
Posted: 07/14/2017
Job: Editor In Chief
Company: Oil & Gas IQ

Of the 545 fixed installations in the North Sea, 80 per cent will have to be dismantled by 2030 at a cost of £47bn. But is anyone truly prepared?

The elephant in the room for so many years, the oil price collapse has seen decommissioning rocket to the top of the owner-operator. We are now in the danger zone where lip-service will have to turn into action.

In our analysis of the North Sea sector, we look at five particular sticking points that could turn decommissioning into a fiscal and logistical nightmare:

  • North Sea decommissioning is largely untested
  • Decommissioning notoriously goes over time and over budget
  • Job losses have greatly reduced experienced staff in the field
  • Bankruptcies have wiped out companies and left their assets in a decommissioning limbo

If your company can offer our 148,000 members a solution in the decommissioning space, please don’t hesitate to let us know in the form below.

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Tim Haïdar
Posted: 07/14/2017
Job: Editor In Chief
Company: Oil & Gas IQ