With leadership team in place, decommissioning JV gets new name
- Business & Finance
With the senior management team now in place, the decommissioning joint venture between Maersk Drilling and Maersk Supply Service has reached a new milestone with the launch of its new name – Maersk Decom.
The two companies established the joint venture focused on decommissioning market back in April in order to leverage the companies’ heritage of over 50 years of operations to provide decommissioning services to oil and gas operators.
The joint venture launched its new name on Friday, June 29.
The senior management team, consisting of CEO Lars Banke, previously from Total, CCO Jens Klit Thomsen, previously from Maersk Supply Service and CTO Carsten Sander Jacobsen, previously from INEOS Denmark, is now in place.
Recruitment for the remaining positions within the company is currently ongoing.
Lars Banke, CEO, commented on Friday: “Maersk Decom may be a new company, but it is built on the track record that both parent companies, Maersk Drilling and Maersk Supply Service, have already established within the field of decommissioning. The name carries with it the long legacy of delivering safe and efficient operations to the offshore energy sector, and the global footprint and corporate values that we will continue to share with both parent companies.”
According to the JV partners, since its establishment, Maersk Decom has received interest from both the North Sea – where more than 400 fields are expected to cease production by 2026 – and from the global market.
Latest market reports indicate that despite the recent uptick in oil price, decommissioning projects will still go ahead due to drivers such as infrastructure integrity, class approval and recertification, and limited export infrastructure.
Jens Klit Thomsen, CCO, said: “Operators in the North Sea can see the value that Maersk Decom brings to the table. By offering bundled solutions and project management covering, to start out with, up to 80% of the decommissioning value chain, they can entrust the majority of the work scope to one dedicated and experienced point of contact. Simplifying the delivery model in this way enables us to lower the risk and overall cost for our customers.”
It is worth reminding that the JV will initially offer bundled solutions for up to 80% of the process required in decommissioning an oil field. In the longer term, the JV plans to provide the full end-to-end process of decommissioning.
Carsten Sander Jacobsen, CTO, stated: “With the leadership team established, we have now turned our attention to finding the right resources and collaboration partners to build an organization that is able to meet the needs of the company’s project portfolio.”