Peak P&A years away in UK; North Sea contractors smell opportunity; Early plugging judged poorly in Norway
Dec 1, 2015Decommissioning news you need to know.
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P&A on rise in UK – but peak years away
Expenditure on North Sea and Irish Sea decommissioning will total £16.9 billion (US$25.5 billion) in 2015-2024, but deferral of some projects means most of this spending will be made post-2020, according to Oil & Gas UK's latest Decommissioning Insight.
Activity is expected to peak in 2022, with spending of £2.2 billion.