The Scottish Energy Minister said an increased in decommissioning costs to the UK taxpayer had been made by Westminster as it “failed to put aside a single penny” to cover liabilities.
A warning has been raised taxpayers could face a £24billion bill for decommissioning oil and gas fields in the North Sea.
In decommissioning, as in life, there are winners and there are losers.
Oil firm Nexen has submitted draft plans for the decommissioning of two North Sea fields to the UK Government.
Oil firm Nexen has submitted draft plans for the decommissioning of two North Sea fields to the UK Government.
The sight of a 14,000 tonne topside on the Norwegian island of Lutelandet is slightly surreal.
At the end of each year, Energy Voice likes to reflect on some of the most read and engaged with stories of the previous 12 months. This gallery looks at our top stories about decommissioning.
There is an unavoidable theme in politics, economics and business at present – uncertainty. But it’s nothing new for the oil and gas industry. A review of oil price figures back to 2008 is evidence of our experience of adapting to change.
A plan to help maximise the value of North Sea decommissioning for small to medium-sized firms has been published by the Scottish Government’s economic development agencies.
Able UK has a message for other British ports considering a big financial outlay on decommissioning facilities: think long and hard before you press the button.
Saipem has landed work for BP's Miller platform decommissioning in the UK North Sea.
Quality assurance giant Intertek will research the impact on sandbanks of rock dumping during oil and gas decommissioning.
For many UK ports, creating the facilities needed for large-scale decommissioning projects is a quest they are just embarking on.
The Port of Dundee has laid its cards on the table, as far as its attitude towards decommissioning is concerned.
Despite Professor Alex Kemp’s justification for decommissioning tax breaks, any break is a very poor deal for the UK taxpayer. Current levels are set at 75% or 50 % for respective petroleum revenue tax (PRT) paying and non-PRT fields. With estimates of the total decommissioning cost at ca £40billion, the taxpayers’ portion is, by any fiscal measure, a huge sum of money. It equates to approximately £1,000 per UK taxpayer. Furthermore, should decommissioning costs increase, as many suspect they will, the risk to the taxpayer is obvious.
Forth Ports has appointed a new recruit to focus on its oil and gas and decommissioning activity.
A new piece of kit that could strip down decommissioning costs is expected to be in Aberdeen in time for Christmas.
North Sea businesses hoping to benefit from decommissioning tax breaks were left wanting by the Chancellor’s Autumn Statement today.
There are still too many questions and not enough answers when it comes to decommissioning costs and liabilities, an industry analyst has said.
The port of Montrose might not leap out as the most obvious choice of facility for decommissioning work.
UK taxpayers could be liable for a significant share of the North Sea’s multi-billion pound decommissioning costs over the next 40 years, according to a new study.
Lloyd’s Register has launched a new service to un-cloud the regulatory and technical aspects of oil and gas decommissioning.
Scotland’s energy minister said today that the Scottish Government was ready to invest to stop decommissioning work going overseas.
Former Scottish secretary Alistair Carmichael said today that the decommissioning market should become a key driver of employment in Orkney and Shetland.
A trade unionist has called for industry and government to invest in decommissioning to make sure the sector creates as many jobs as possible.