Wednesday 27 November 2019

The UK’s decommissioning sector’s growing competitiveness has been revealed in the 2019 Decommissioning Insight report launched by OGUK at the Offshore Decommissioning Conference held jointly with Decom North Sea. The report now in it's tenth year has revealed in it's key findings :

• Decommissioning represents under 10 per cent of the oil and gas industry’s overall expenditure
• Decommissioning expenditure remains constant at around £1.5 billion per year
• Over the next decade, forecast expenditure for UKCS decommissioning remains constant at £15.2 billion
• M&A activity in areas of the North Sea is extending the life of offshore assets and moving decommissioning activity to the future
• Within the next ten years £67 billion will be spent decommissioning oil and gas assets in the global market
• Nine per cent of platforms installed on the UKCS have been decommissioned

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