Chancellor George Osborne has announced a widely anticipated plan to end uncertainty over decommissioning costs for North Sea oil and gas producers and a £3billion allowance to open up the west of Shetland.
STATOIL is mounting a massive North Sea campaign this year that will necessitate 21 production shutdowns on the Norwegian Continental Shelf. The shutdowns will allow for required maintenance and inspection, and many of its installations will be upgraded to expand capacity, implement technical improvements and extend their economic life. All this will be accomplished during the planned shutdowns, says Statoil.
