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Billions to be spent on decommissioning the UK's oil and gas infrastructure — industry group

Billions to be spent on decommissioning the UK's oil and gas infrastructure — industry group

 

Offshore Energies UK (OEUK), the leading representative body for the UK’s offshore energy industry, predicts billions of pounds will be spent to decommission the infrastructure that has kept the UK’s energy flowing for the past 50 years, according to a report published by the group.

OEUK will publish its Decommissioning Insight report next week, predicting a surge in decommissioning activity over the next three to four years.

Decommissioning is the process of withdrawing offshore energy infrastructure from use once it’s no longer needed or at the end of its lifecycle.

The report looks at the sector’s performance for 2021 and the challenges and opportunities in the decade ahead. It will be launched November 22 at OEUK’s annual Offshore Decommissioning Conference.

The growing demand for the service will generate billions of pounds worth of work for UK companies, especially for energy communities based near the central and northern North Sea.

Such opportunities also bring challenges – including spikes in demand for supply chain services, along with competition for resources and skills generated by the expansion of renewables.

“The decommissioning opportunity is growing, as well as demand for supply chain services,” Ricky Thomson, OEUK’s decommissioning manager, said. “With the right action from the industry, billions of pounds worth of work could be scored for industrial communities across the country.

“We must collaborate across energies to make sure we can capture the lion’s share of work in the UK and make the most of this decommissioning surge.”

Read the latest issue of the OGV Energy magazine HERE

Published: 19-11-2022

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