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Oceanographic Instrumentation: Measurement, Process & Analysis

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cost of decommissioning, up to 70% of saving here would amount to a £14 bil- work. Some 349 ? elds are expected to which can be offset by tax relief, which lion saving over all, he says. He says be decommissioned by 2025, compris- means it’s also an issue for tax payers. that, between 2018-27, some 180 wells ing 2447 wells, 206 platforms, 1.4 mil-

The Oil & Gas Authority (OGA) has a a year are expected to be plugged and lion tonnes of facilities, costing in total

Decommissioning Task Force which is abandoned, peaking in 2023-24, with £17 billion. Many of these ? elds have targeting a 35% reduction in the total about 110 of those from platforms, the different owners and are spread about cost of UKCS decommissioning, from rest being subsea and requiring mobile the North Sea, making aggregation hard the £57.9 billion estimate made in 2017, rigs or other vessels. Some of the efforts for individual owners, especially those to less than £39 billion. already being made are having an im- with small asset bases. Some could de-

Nils Cors, head of decommissioning pact here. According to Oil & Gas UK’s cide to sell on their assets to specialist at the OGA, highlights that well plug- Insight report, ef? ciency gains have late life to decommissioning companies, ging and abandonment is the biggest already helped reduce well decommis- suggests EY’s Jon Clark, EMEIA lead- cost area in decommissioning – at about sioning costs by 26% on average. er for oil and gas transaction advisory 46% of the total - and has the biggest According to business consultancy EY, services. Indeed, in some cases, assets potential for cost reduction. A 50% cost one way to reduce costs is aggregating that major operators had planned to de-

Lifting the heli-deck off the Miller platform.

The Armada ? eld conductors. While slated for decommissioning, a new operator, Chrysaor, has brought a new lease of life to the Armada hub.

Image from BP

Image from Chrysaor

March 2019 30 MTR

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