In parallel with the recent success of the 30th exploration licensing round, the production upturn and the rise in M&A activity, decommissioning is now recognised as a significant stage of a field’s life-cycle – with expenditure on decommissioning-related activities across the UK Continental Shelf approaching £2 billion per year.
A Decommissioning the North Sea in a $78 World business breakfast – organised by Oil & Gas UK, sponsored by White & Case and taking place in London on June 27 – will provide an update on how industry and regulators are progressing with delivering the decommissioning scope in the UK.
The event will be chaired by Oil & Gas UK Upstream Policy Director Mike Tholen and feature the speakers:
- Nils Cohrs, Oil & Gas Authority
- Graeme Fergusson, Decom Energy
- Richard Heard, Oil & Gas UK
Mr Tholen said:
“Industry is committed to delivering safe and cost-effective decommissioning when the time is right.
“But there are a few myths surrounding decommissioning such as ‘costs only ever go up’ and ‘decommissioning liabilities are a roadblock to new investment’ that our breakfast aims to debunk.
“Fresh insights will be provided by Oil & Gas UK into the rapidly changing decommissioning market where new companies and business models are emerging in the UK to tackle a global market running into $100s of billions of dollars.
“Reducing the overall cost of decommissioning on the UKCS, delivering regulatory obligations and developing new business models to optimise the delivery of decommissioning will also be discussed by our panel.”
The event should be of interest to anyone in industry looking ahead to decommissioning. Places can be booked here.
Notes to Editors:
Media can attend the breakfast – to book contact Communications Manager Jennifer Phillips on 01224 577279 / [email protected]. Issued by the Communications Team, Oil & Gas UK.
Oil & Gas UK is the leading representative organisation for the UK offshore oil and gas industry. Its membership comprises oil and gas producers and contractor companies.