Page 30: of Marine Technology Magazine (April 2016)

Offshore Market: Decommissioning

Decommissioning

Market to Boom to 2040

Which Way is Up? The Six Things You need to Know NowWhich Way is Up? The Six Things You need to Know Now

Subsea Well Removal is a Leading Cost DriverSubsea Well Removal is a Leading Cost Driver

Ben Wilby, Analyst, Douglas-Westwood orth Sea decommissioning has long been consid- it has become a growing problem with prices dipping below ered an area of huge potential opportunity for a $30. Recent growth to ~$40, while positive, is unlikely to stop variety of companies, which to date has not been major decommissioning work. fully realized. Decommissioning has moved ex- A rapid recovery in oil price is not expected, with many

Ntraordinarily slowly – there have been limited re- forecasting Brent to remain under $100 per barrel in 2020. movals within the region as platform operators have preferred When