Decommissioning – Delivering the Competitive Advantage in a $50 World
An inevitable part of a maturing oil and gas province, decommissioning activities are steadily increasing alongside industry’s drive to maximise recovery of up to 20 billion barrels from the UK Continental Shelf through exploration and production. Careful management is required to ensure the UK’s offshore oil and gas installations are decommissioned safely and cost-efficiently while protecting the environment.
This breakfast briefing focused on how the industry is working collectively with stakeholders, including the Oil and Gas Authority through the MER UK Decommissioning Task Force and BEIS, to take responsibility for delivering decommissioning projects that meet regulatory obligations in a $50 world. It shed fresh light on the scale and cost of decommissioning (and the cost drivers), provided insight into the latest thinking on the regulatory environment and the challenges facing regulators, and highlighted the uncertainties inherent in planning and executing decommissioning projects.
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