Decommissioning Insight 2015

DECOMMISSIONING INSIGHT 2015

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

100%

90%

80%

70%

60%

50%

40%

30%

20%

Percentage Breakdown of AACE Cost Class

10%

0%

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Class 1 Class 2 Class 3 Class 4 Class 5

Source: Oil & Gas UK

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