2022. A challenging year across the energy industry, yes. Some would also call it a year of change, but I’m not so sure about that. When it comes to the Transition, we’re no longer at the beginning – we’re now a substantial way along the road and the energy industry is changing structure apace. Read more here
Aberdeen decommissioning firm Cutting Underwater Technologies (CUT) has landed a key, four-year contract with heavy lift specialist Heerema Marine Contractors. It comes as the Bridge of Don-based CUT, a provider of cutting services for offshore assets ahead of removal, is on track for a predicted turnover of more than £5.1m in 2022. Read more here
Aberdeen-based Repsol Sinopec has signed a deal with Liberty Industrial for the decontamination, demolition and site remediation of Nigg Oil Terminal. Planning and engineering work will begin by the end of the year with decommissioning work starting in 2023 with a goal of completion by 2025, at which point the terminal will be handed back to the leaseholder Global Energy …
A pair of North Sea firms are preparing belated Christmas presents for the supply chain, in the form of decommissioning contracts. Operators Ithaca Energy and CNR International have both signalled their intention to put subsea deals to the market in January 2023. Read more here
The project will capture, transport and store 6 MMtonnes per year growing up to 10 MMtonnes/year of CO2 emitted from the Thames Estuary and potentially northwest European regions into the Hewett depleted gas field. Eni UK has launched the Bacton Thames Net Zero (BTNZ) Cooperation Agreement with the shared aim of decarbonizing industrial processes in the southeast of England and …
Operator EnQuest (LON: ENQ) has emerged as the latest North Sea firm to throw its hat into the carbon capture and storage (CCS) ring. In an operational update, shared on Thursday, the company revealed in September, it submitted applications to the North Sea Transition Authority (NSTA) for two licences to stow emissions. Read more here
Offshore Energies UK expects 2,100 UK North Sea wells to be decommissioned during the next decade, with an average P&A cost per well of £7.8 million ($9.26 billion). Read more here
The UK will spend billions removing oil and gas assets over the next decade, and billions more installing offshore windfarms – so why doesn’t it have a heavy lift business to capitalise on it? That’s a question that TAQA decommissioning director David Wilson brought up this month, who said there’s a “really strong business case” for a UK firm to invest in …
The North Sea Transition Authority (NSTA) has set a new cost target for offshore decommissioning – as the original goal looks set to be missed. Under the new target, the industry’s total bill for cleaning up the North Sea will be £37bn from next year, which is to be reduced by 10% by the end of 2028 to £33.3bn. Read …
More than 2,000 North Sea wells are poised to be decommissioned over the next decade, an average of just shy of four a week. To achieve that feat, the oil and gas industry will need to fork out around £20 billion during that period, according to a new forecast from Offshore Energies UK (OEUK). Read more here
