Scotland Launches 4th Round of Decommissioning Challenge Fund
- Research & Development
Scotland’s Energy Minister, Paul Wheelhouse, has announced funding of £4 million to help maximize the economic benefit to Scotland from the decommissioning of North Sea infrastructure.
The money from the Decommissioning Challenge Fund is in addition to the £10 million committed in the first three rounds of the fund in a number of locations including Shetland, Kishorn, Aberdeen, Dundee, Leith and Hunterston.
It will provide support for projects to enhance the decommissioning market and the supply chain in Scotland.
Scotland’s Energy Minister, Paul Wheelhouse, said: “Industry reports tell us that £15.3 billion is forecast to be spent in the UKCS between 2018-2027, with further market demand beyond this. This represents a great opportunity for Scotland’s supply chain and I am delighted to announce this £4 million fund.
“Scotland’s Energy Strategy highlights the significant economic opportunities that decommissioning offers, and commits to enhancing our skills and capacity. As the industry continues to build on established capabilities and internationally recognized expertise, such as in well plugging and abandonment techniques, the fund plays a crucial role in supporting the future development of this growing industry.
“Decommissioning North Sea infrastructure will help Scotland’s supply chain gain an even higher share of North Sea projects and capitalize global market opportunities by exporting knowledge and experience. This fund will support innovation in the supply chain, further cost reduction and improve the recognized skills of the Scottish workforce – which is why it has proved so popular with businesses.”
The Decommissioning Challenge Fund is open to expressions of interest from July 15 to September 02, 2019.
This latest round will deliver capital and resource funding for projects in financial year 2019/20.