Decom liabilities: how do they work? and what’s the bearing on North Sea M&A?
Decommissioning – the multi-billion pound, monster job looming over the oil and gas industry.
decommissioning
‘Shame on us’: Workers ‘decommissioned’ as students can’t find jobs
Decom Mission's chief executive Sam Long said "Shame on us" at an Aberdeen event as a student pointed out the difficulties of getting into the industry.
North Sea’s future biodiversity relies on decommissioning decisions
The North Sea is at a turning point. Hundreds of rigs and their associated marine infrastructure are set to be decommissioned. Oil and gas platforms will begin to move out, and infrastructure for offshore renewable energy will move in.
Ardersier secures key decom permit as port readies to take ‘Turkish and Indian yards head on’
Ambitious plans to revamp a Scottish fabrication yard for use recycling North Sea infrastructure have taken a major step forward.
Ardersier lands £300m private equity investment for offshore wind transformation
Former BP executive Lewis Gillies has been named CEO of the port’s new parent company.
Exclusive: UK concedes ground on ‘hazardous wastes’ in Shell Brent legs
It comes as the EU said leaving the thousands of tonnes of oil-sediment contents in place would be “environmentally and socially unacceptable”.
‘Something has to happen’: North Sea months away from offshore wind-decom clash
Dozens of platforms and substructures are to be removed in 2024 - while 16 windfarms are forecast to be installed; an unprecedented level of activity.
Neptune commits $23 million to German decommissioning campaign
Aberdeen-based Neptune Energy has committed to spending $23 million (£18.7m) on a decommissioning program in Germany.
Decom Week 2023 to facilitate operator-supply chain conversation
Decom North Sea, the only membership organisation focused upon decommissioning across the energy industry, has announced a programme of events for Decom Week 2023.
‘It’s absolutely huge’: What next for decommissioning Ninian Central?
How to remove a 600,000 tonne structure in the middle of the North Sea? Most likely, operator CNR International simply won’t.
Watch: Valhall production platform toppled at Norwegian yard
A structure that stood in the Central North Sea for around three decades has been pulled to the ground at a Norwegian yard.
BP pairs with Well-Safe to decommission North Sea wells
Oil giant BP (LON: BP) has picked Aberdeen’s Well-Safe Solutions to help it decommission a pair of suspended North Sea wells.
Mermaid Subsea creating 12 jobs with major decommissioning contract
The 22-well P&A deal is Mermaid Subsea’s largest contract to date.
Well-Safe Solutions drafts in Aberdeen firm to help cut carbon emissions
Decommissioning firm Well-Safe Solutions has teamed up with PD&MS Group as part of a push to slash its environmental impact.
UK trade boss bigs up decom export growth potential at industry event
A senior government trade official hailed decommissioning as “one of the UK’s greatest strengths” during an industry conference yesterday.
UK North Sea braces for $25bn cash flow crash
Inflation, rig rates and the windfall tax will hit 40 companies over the next five years – some of that cash would otherwise go to areas like safety and decarbonisation.
Well-Safe Solutions teams up with Apache to decommission North Sea wells
Well-Safe Solutions and Apache (NASDAQ: APA) have struck a multi-year framework deal to decommission wells in the North Sea.
ExxonMobil hires US contractor Helix for Australia decommissioning
ExxonMobil (NYSE:XOM), operator of the Gippsland Basin Joint Venture, has hired the Helix Q7000 semisubmersible vessel to support decommissioning activities in the Gippsland basin offshore Australia, as ExxonMobil ramps up decommissioning work.
EnQuest picks Saipem for Heather jacket removal
EnQuest (LON: ENQ) has hit a “significant milestone” in its campaign to decommission a decades old North Sea field.
Fitch warns states will shoulder future decom burden
It cited analysis by Boston Consulting Group stating that by 2038 there would be 1,000 offshore structures in the Arabian Gulf that would no longer be economically viable.
Decommissioning – where next?
Decom North Sea argues the case for visibility of work for the supply chain, and hints at changes on the horizon for its own organisation.
Aberdeenshire’s Denholm Environment rounds off 2022 with £414k investment
Denholm Environmental, a subsidiary of Denholm Energy, finished 2022 on a high with dual announcements.
The wind industry’s three spectres…
Driven by society’s need to tackle climate change, renewable energy-based power generation is growing exponentially worldwide and especially in Europe where wind power alone now accounts for around 16% of capacity.
Hiring: North Sea regulator advertises £118,000 a year decom job
A £118,000 a year decom job is up for grabs at the North Sea industry regulator, the NSTA, after a reshuffle of its top team.
North Sea Notes – Energising Decommissioning
Like the rest of the post-pandemic world, the decommissioning sector has faced a blizzard of change in the past few years.