Decommissioning Insight 2020
UKCS Decommissioning Removals Activity
Brent Alpha
Thistle COS Tanks Removal
Vampire OD Jacket Removal
Viking BA Jacket Removal
Topsides Removal
Viking BP Jacket Removal
Pickerill B Topsides Removal
Vampire OD Topsides Removal
Guinevere Removals
Viking BP Topsides Removal Caister CM
Viking BC Topsides Removal
Europa EZ Topsides Removal
Ganymede ZD Topsides Removal
Viking BD Jacket Removal
Topsides Removal
Viking BA Topsides Removal
Viscount AO Topsides Removal
Viking BC Jacket Removal
Viking BD Topsides Removal
Figure 1: Oil Price and UKCS Removals Activity, 2020 80 70 60 50 40 30 20 10 0 Brent Crude Price ($ per Barrel) Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Source: EIA, OGUK Wuhan Province in China enters lockdown Prices fall amidst concern that the extent of the supply cuts not enough to balance the market. Prices in the US turn negative for the first time. Prices rise in line with easing of economic restrictions around the world and OPEC restrictions drive supply to a nine-year low Market stabilises around $40, however supply and demand remain fragile Breakdown of OPEC talks aimed at reducing supply to counter falling global oil demand OPEC and ally countries agree to record production cuts Ninian Northern Topsides Removal Brent Alpha Jacket Decommissioning Global markets surge on positive news of COVID-19 vaccine trials. Brent prices increase more than 15 per cent.
DECOMMISSIONING INSIGHT 2020
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