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DECOMMISSIONING INSIGHT
2015
page 10
Only five per cent of projects were reported as class 1 or 2, where the level of project definition is between
30 and 100 per cent and they are either at the contracting stage or already in execution. Projects that have a
class 1 classification have typically already contracted out all of the work and are found in the near-term of the
survey timeframe, that is, before 2020.
The following figure shows the percentage of projects that fall into each cost class level by year. Projects that span
multiple years are counted in each year that they incur spend.
Figure 1: AACE Cost Class Breakdown by Year
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Percentage Breakdown of AACE Cost Class
Class 1 Class 2 Class 3 Class 4 Class 5
Source: Oil & Gas UK