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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