Decommissioning North Sea platforms to cost $66.3 B

  • Business & Finance

Decommissioning North Sea oil and gas facilities is projected to cost £40.6 billion ($66.3 billion) over the next 25 years in the North Sea, Oil & Gas UK says.

According to Oil & Gas UK when the time is right, oil companies will seek to decommission as efficiently and cost effectively as possible while ensuring they meet their safety and environmental obligations.

The issue will take centre stage when Oil & Gas UK and Decom North Sea jointly host the Offshore Decommissioning Conference 2014 next month (October 7- 9) at the Fairmont in St Andrews.

The conference, sponsored by EY, is entitled “Delivering the Future Together” and themes of the event include: Collaboration Delivering Business Benefit; The Wells Challenge; The Lifting and Moving Challenge; Innovation & Technology; Sharing the Space and The Onshore Handling Challenge.

Last year, the conference attracted more than 300 delegates from the UK, Norway, the Netherlands and America.

This year’s keynote speaker is Gordon Ballard, vice president industry affairs & chairman, Schlumberger UK Ltd. He said: “Decommissioning is a big challenge for an industry which is currently seeking to maximise economic recovery. It is a careful balancing act but one the sector must be fully prepared for. The need to control costs and maximise efficiency is recognised across the industry today, and those principles equally apply in the decommissioning arena.”

Decommissioning North Sea to cost $66.3 BCompanies involved in sessions include EY; CNR International; Hess Corporation; Helix Well Ops; Weatherford; Wintershall and Statoil. Moray Firth Partnership and the Scottish Association for Marine Science are also presenting while the onshore handling challenges will be raised by representatives from Zero Waste Scotland; DNV-GL, ABB Consulting and SLR Consulting.

Mick Borwell, environment director at Oil & Gas UK, said: “Delegates will learn from industry experts and also hear at first hand from companies already involved in the decommissioning of assets. Oil & Gas UK will also be launching its Decommissiong Insight 2014, which will be of huge interest to all involved.”

Nigel Jenkins, chief executive of Decom North Sea, added: “This conference arrives at an opportune time for the industry. Decom North Sea is leading meaningful collaboration focused on developing game changing decommissioning solutions, together with Oil & Gas UK. I am greatly looking forward to engaging with our members and stakeholders as we continue to play a vital role in the decommissioning of oil and gas assets and to create a centre of excellence for the industry.”

Related: Heerema-AF JV get LoI for Murchison platform removal job

[mappress]
Press Release, September 22, 2014

 

Related news

List of related news articles