Abstract
Decommissioning of offshore oil and gas installations is becoming a central issue for the upstream industry in mature hydrocarbon basins such as the United Kingdom Continental Shelf (UKCS). The decision to begin decommissioning activity is determined by several economic and regulatory factors. One important challenge is the substantial amount of financial resources required. The annual average decommissioning expenditure in the UKCS is expected to be between £1.5 and £2 billion pounds during the next decade (OGUK, 2020). The Oil & Gas Authority
(OGA) estimates that the cost to decommission the full inventory of offshore installations could amount to £51 billion (OGA, 2020).
(OGA) estimates that the cost to decommission the full inventory of offshore installations could amount to £51 billion (OGA, 2020).
Original language | English |
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Title of host publication | Energy, COVID and Climate Change |
Subtitle of host publication | 1st IEAA Online Conference |
Publisher | International Association for Energy Economics |
Number of pages | 13 |
Publication status | Published - 9 Jun 2021 |
Event | The 1st IAEE Online Conference - Online Event Duration: 7 Jun 2021 → 9 Jun 2021 https://iaee2021online.org/ |
Publication series
Name | IAEE Conference Proceedings |
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Publisher | International Association for Energy Economics (IAEE) |
ISSN (Electronic) | 2707-6075 |
Conference
Conference | The 1st IAEE Online Conference |
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Period | 7/06/21 → 9/06/21 |
Internet address |