Oil & Gas UK Decommissioning Insight 2014

Total decommissioning expenditure on offshore assets over the next decade is forecast to be £14.6 billion, or just under £1.5 billion per annum. Whilst this is a significant sum, it should be put into context against total capital expenditure of £14.4 billion 5 last year. The challenge is to see a thriving decommissioning market emerge as part of a continued and sustained capital investment programme; both will rely on a relentless focus on cost efficiency and a desire to achieve yet more effective ways of working.

1

2

This document could only have been produced through support of the operators who provided data to the survey. We would like to thank these companies for their continued support.

3

We trust you find this document an informative and useful guide to decommissioning activity on the UKCS.

4

OonaghWerngren Operations Director Oil & Gas UK

5

6

7

5 Oil & Gas UK’s Activity Survey 2014 is available to download at www.oilandgasuk.co.uk/forecasts.cfm

5