Decommissioning Insight 2022

Opportunities for innovation

The opportunity for offshore wind decommissioning is now. Offshore wind decommissioning programmes are submitted prior to construction. Opportunity to share learnings in designing for decommissioning.

forecast spend for 2022 Wells decommissioning accounts for 48% of expenditure £ £1.97bn

spent in 2021 £1.27bn

(£bn)

Spend

2022-2031 forecast spend

% of next 10 year spend

2021 Actual

1.27

19.73 19.73

6.5%

48%

2022 Forecast 1.97

10.0%

Decommissioning upsurge

2020

2021

2022

Cost per well (£mn) Platform well

2019 – 21: Average decom spend/year = £1.23bn 2022 – 25: Average spend/year forecast = £1.83bn

2.76

2.70

2.56

Subsea well

7.96

7.81

7.89

Well decom average spend/year expected to RISE by £325 mn between 2022 and 2025 compared with the previous three years.

E&A well

4.01

4.36

4.42

DECOMMISSIONING INSIGHT 2022

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