Decommissioning Insight 2019

1

It is also exciting to see new companies are emerging specialising in decommissioning, either offering full scope solutions or more specialised activities such as offshore decommissioning of wells and removal of structures or onshore dismantling and disposal. These companies will offer the industry real choices as to whether operators indeed do-it-themselves or pass on the scope to others who may offer an increasingly competitive solution. Business innovation goes hand in hand with technological innovation. The sector is making the most of the facilities offered by the OGTC and the recently opened National Decommissioning Centre, both of which, will play a key part in transferring technology from other sectors and developing innovative solutions. Technology will help the domestic market reach the next level of performance and provide inroads for the industry to support decommissioning in other mature basins round the world. Decommissioning is not the end of our industry; it offers a new beginning. Four years ago, industry stepped up to the challenge to cut decommissioning costs by 35 percent and we are well on the way to achieving that. We must apply the same collective determination and pioneering capabilities to deliver the net zero carbon challenge. Re-use of old facilities for carbon capture and storage presents new opportunities, not just to create new value from old assets but also to help deliver that net zero future that we as an industry have committed to deliver as part of Roadmap 2035. Decommissioning with the net zero agenda at the forefront of our minds will be the next big step; where we lead, others will follow.

2

3

4

5

6

7

Michael Tholen, Upstream Policy Director, OGUK

8

9

10

11

5