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
14 April 2026
The GECF has warned it may revise its projections for demand this year downwards in light of conflict in the Middle East, although it maintains its forecasts for 2027 and onwards
13 April 2026
Petroleum Economist analysis highlights sharp shift from crude oversupply to market deficit, with Iraq and Kuwait badly affected and key producers Saudi Arabia and the UAE also seeing output sharply lower
13 April 2026
Turkmenistan is moving ahead with a modest expansion of the giant Galkynysh field to sustain gas deliveries abroad, but persistent delays to other key pipeline projects and geopolitical risks continue to constrain its export ambitions
13 April 2026
Expensive electricity has forced out swathes of energy-intensive industry and now threatens the country’s ability to attract future investment in datacentres and the digital economy
