WIRELINE Spring 2017

Oil & Gas UK | News Round-Up

9. North Sea decommissioning to grow steadily over the next decade

Downloadtheinfographics at www.oilandgasuk.co.uk/ decommissioninginsight.

Oil & Gas UK’s Decommissioning Insight forecasts a gradual but steady rise in offshore oil and gas decommissioning on the UK and Norwegian Continental Shelves over the next ten years. The analysis confirms that, despite low oil prices, there has not been a rush to decommission. Instead the picture is more complex as different market forces influence strategies across the North Sea. The report marks the first survey of both the UK and Norwegian decommissioning markets and provides the most comprehensive picture to date of anticipated activity in these two countries

between now and 2025. Its insights will help operators to decommission effectively and points the supply chain to where demand for services is likely to lie. Data on 186 projects are captured in the publication. Decommissioning on the UK Continental Shelf from now until 2025 represents a £17.6 billion market. Over 50 per cent of this is in the central North Sea. Oil & Gas UK is also working on the MER UK Decommissioning Task Force with the Oil and Gas Authority and the Department for Business, Energy & Industrial Strategy to develop new fit-for-purpose technical, commercial and operational solutions to lower the cost of decommissioning while maintaining high safety and environmental standards.

The report is available to download at https://cld.bz/jb05Hxr.

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