The Oil and Gas Authority (OGA) has warned UK decommissioning spending will fall short of estimates over the next two years, bringing concerns of a “significant impact” on suppliers.
Representative body Decom North Sea (DNS) has entered into a pact to help its members find work in Brunei’s growing late life and decommissioning sector.
UK decommissioning activity is expected to increase due to the effects of Covid-19, but threats to jobs and the longevity of skilled SMEs will impact the “capacity and capability” to carry it out.
The predicted cost of decommissioning the UK’s offshore wind farms has already risen to about £4 billion, the audience heard at a conference in St Andrews yesterday.
The rise of specialist decommissioning firms could give the UK the edge in a global oilfield dismantling market worth £67 billion over the next decade, a new report said.
Joint hosts Decom North Sea and OGUK have published the agenda for the tenth Offshore Decommissioning Conference, to be held in St Andrews, November 25-27 .
The UK oil and gas sector must be alive to the threat of rising costs in its quest to become the global expert in cost-effective decommissioning, industry experts have warned.
Higher oil prices and industry’s “relentless focus” on efficiency have pushed decommissioning projects further into the future, a flagship report said.
The UK is now “on the road” with decommissioning, and as such costs are slowly but surely becoming more certain, according to the new chief executive of Decom North Sea.
With the panel session completed, the last business card exchanged and another memorable Decom Offshore conference drawn to a close, I think I have just enough energy left to reflect on what’s been an important week for Decom North Sea.
Decom North Sea’s primary role as a member organisation is – of course – to bring value to our members; we’re here to support the supply chain in winning work, and to help operators meet their regulatory obligations and cost control challenges. A clear understanding of the decommissioning marketplace is critical to both parties, if efficient, cost-effective and environmentally-sound decommissioning activity is to be undertaken.