OEUK’s Decommissioning Insight 2023 report offers a unique overview of the challenges and market opportunities in the sector which involve some of the biggest and most complex engineering projects ever faced in the North Sea.
The report highlights that shutting down obsolete North Sea energy installations is a business opportunity worth more than £20 billion over the next decade, according to calculations by Offshore Energies UK (OEUK). The report also gives a detailed overview of requirements for decommissioning and recycling hundreds of oil and gas platforms in UK, Norwegian, Danish and Dutch waters.
Even with the latest round of new licences issued this Autumn, North Sea oil and gas production is declining by 7% a year. There are currently 283 active oil and gas fields in the North Sea. By 2030, 180 will have ceased production. Closing them without ongoing management of decline through new licensed production will mean a loss of homegrown energy which provides security and adds value to the economy.
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