North Sea firms under pressure to cut decommissioning costs
Closer collaboration is essential to drive down the price tag for dismantling infrastructure, the UK's regulator says
The Oil and Gas Authority (OGA) says the industry must reduce decommissioning costs in the North Sea by at least 35% from forecast levels to below £39bn, but achieving that target will not be easy. In its 2017 Cost Estimate Report for UK continental shelf (UKCS) decommissioning, the regulatory body has produced a cost estimate, based on 2016 prices, ranging from ($57.74bn) £44.5bn (P10) to £82.7bn (P90), with a P50 figure-or mid-point in terms of probability-of £59.7bn. The range of figures reflects the high degree of uncertainty in submissions provided by operators to the OGA, especially for decommissioning work likely to occur after 2025. The mid-point of £59.7bn is higher than figures t
Also in this section
10 March 2026
From Venezuela to Hormuz, the US—backed by the most powerful military force ever assembled—is redrawing not only oil and gas flows but also the global balance of energy power
10 March 2026
By shutting the Strait of Hormuz, Iran has cut exports of distillate-rich Middle Eastern crude, jet fuel and diesel, and is holding the energy market hostage
10 March 2026
Eni’s director for global gas and LNG portfolio, Cristian Signoretto, discusses how demand will respond to rising LNG supply, and how the company is expanding its own gas and LNG operations through disciplined, capital-efficient investments
9 March 2026
Petroleum Economist analysis sees increases in output from Saudi Arabia, Venezuela and Kazakhstan among others before region’s murky descent
