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Decommissioning industry in the North Sea set to surpass £19 billion by 2030

Posted on 07.10.2009 - 13:00 EDT in GENERAL NEWS by Rons_ROV_Links

Decommissioning industry in the North Sea set to surpass £19 billion by 2030According to a recent Oil and Gas UK economic report: "Some 470 installations, 10,000km of pipelines and 5,000 wells will eventually have to be decommissioned in the UK Continental Shelf... Expenditure is projected to exceed £19 billion by 2030."

Despite its huge opportunities, the decommissioning industry still has some significant hurdles to leap. In the last decade, timescales have shifted to the right, and overruns in time and budget have cost companies millions. This, and expensive, limited technology only able to operate in specific conditions has caused the industry to stutter, and it is still in its early stages of growth.

To help overcome these problems, the key players in the industry are converging on Aberdeen on the 11th-12th of November for EyeforEnergy's 6th Annual North Sea Decommissioning Summit. The summit has already attracted speakers from the likes of DECC, OSPAR, Subsea UK, and Scottish Enterprise, and is attracting many representatives from major North Sea operators.

Delegates such as BP, Shell, Perenco, Marathon, ECX, DECC, OSPAR, Subsea UK, Proserv, Aker, Halliburton and loads more are set to hear how to deliver low-cost, on-time decommissioning solutions and capitalise on emerging opportunities in the North Sea and beyond.

Industry representatives such as Keith Mayo, Head of Offshore Decommissioning for DECC, Alan Simcock, Former Executive Director at OSPAR and Alistair Birnie, Chief Executive of Subsea UK will be discussing:

• The future of North Sea legislation, and how it will effect the decommissioning world
• How to secure the next wave of decommissioning contracts as they come to tender
• How to enhance processes and technologies to cut costs and stay competitive
• The lessons that can be learnt from the more mature market in the Gulf of Mexico
• And much, much more.

"This conference is an excellent event for North Sea contractors," confirms Duncan Griffiths, a Director at Cutting Underwater Technologies, and speaker at this year's conference. "It is certainly well worth the time and effort to attend."

"This year we're really stepping up our game," says Tim Lovatt, Director of EyeforEnergy. "This summit will have more operators on board, incorporate a more in-depth technical session, and will give delegates a more intimate experience with moderated interactive roundtable sessions. It's vital that companies get involved and make sure they don't get left behind."

In March this year, 280+ senior operator and contractor representatives met at EyeforEnergy's Houston Summit to discuss decommissioning and abandonment in the Gulf of Mexico. This equivalent North Sea dedicated event is following hot on its heels.

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