North Sea operators shelve half a billion pounds of decommissioning spend: OGUK
North Sea operators have shelved more than half a billion pounds of decommissioning spending, according to a new report from Oil and Gas UK (OGUK).
North Sea operators have shelved more than half a billion pounds of decommissioning spending, according to a new report from Oil and Gas UK (OGUK).
The total amount expected to be spent on decommissioning oil fields in the West of Shetland this decade has surged above £1billion.
A North Sea trade union boss has warned the oil industry is “teetering on the brink” due to a lack of activity and investment in the basin.
An Aberdeen start-up firm’s technology for slashing oil well decommissioning costs has passed its first North Sea trial with flying colours.
The contribution decommissioning can make to the low carbon future will be a key theme at OGUK’s first ever virtual conference later this month.
With its prominence in the current news agenda there is no doubt that decommissioning in the North Sea has arrived.
HMRC has boosted projections by £1.1billion for the amount of tax repayments it expects to give oil firms for North Sea decommissioning.
Reused and repurposed products and materials are concepts associated with a circular economy, and a circular economy is associated with the green recovery of our nation following the challenging events of this year. If we, as a nation and as an industry, are to meet our carbon emission reduction targets in the coming years, then we must act now.
Very few offshore wind turbines have so far been decommissioned anywhere -- and little significant activity is expected on that front until the end of the current decade.
It’s not long before we host our first ever digital decommissioning conference on November 24-25 and with the aim of creating a dynamic, international and interactive online experience, it’ll be like no other event we’ve ever hosted before.
Hoover Ferguson stepped up decommissioning activity this year, securing a contract with leading Celtic-basin operator, PSE Kinsale Energy (KEL), for the supply of temporary accommodation units on the Kinsale Bravo platform. The Bravo platform originally operated as a manned facility, but was converted to an NUI in 2001 and the redundant platform accommodation was not suitable for remanning.
A series of significant milestones - shaping the next generation of deep-water infrastructure developments at Lerwick Harbour - are expanding capability and competitiveness for the offshore decommissioning and renewables industries.
Adopting a campaign approach to well decommissioning in the UK North Sea is the way forward, according to the sector’s regulator.
The dramatic fall in the oil price at the start of the year has accelerated decisions by some operators to move to cessation of production, with announcements from Premier on Balmoral and Enquest on Thistle, Heather, Deveron and Broom.
Aberdeen-based GDi is pioneering a number of technologies with a focus on driving efficiencies through big data, machine learning and enhanced visualisation.
Frustrated by uncertainty around project schedules offshore UK, North Sea decommissioning firms are increasingly looking overseas for work, a sector chief said.
Oil and gas decommissioning firm Well-Safe Solutions has secured a £26 million investment to fund the next phase of its growth plan.
Bosses at Kishorn Port say “momentum” is building as they work towards a multi-million pound extension of the drydock to capitalise on North Sea decommissioning.
The US company best known for wielding a heavy-lift vessel whose huge, yellow trusses have drawn comparisons with McDonald’s Golden Arches logo is preparing to take another crack at the North Sea market.
Cost efficiency. That is easily one of the most common phrases of the year with heads of business, peers, media and even family members using it when considering expenditure in 2020. To substantiate my thinking, I ran a social listening audit on conversations around cost efficiency and streamlining, paired with oil and gas, energy transition and net zero and found that conversations had increased by 7 percent from 2019 until present, which I fully expect to rise by the year end.
It’s around this time of year that Oil and Gas UK releases its eagerly-awaited annual Decommissioning Insight report. The study was first launched to enhance knowledge of the decommissioning market. It shows an industry with intellectual capability that needs to be shared to maintain competitiveness and efficiency.
The UK’s workplace safety watchdog has accused two offshore energy sector firms of putting crew at “serious risk” of catching Covid-19.
Decommissioning takes on a new global dimension as OGUK launches its first ever virtual conference to provide delegates with a dynamic, international and interactive online experience.
Hurricane Energy has set aside £16.8 million to help ensure it can cover decommissioning costs for its Lancaster field after cancelling a bond agreement.
In common with some other industry events, we took the decision to keep Decom Offshore in the calendar. Despite the difficulties wrought by the global pandemic, decommissioning has been in the headlines a number of times over the past six months. Decommissioning of offshore assets is inevitable and seismic market shifts as we’ve all recently encountered serve as a catalyst for further conversation around the timing and approach.