UK’s regulator North Sea Transition Authority (NSTA) has outlined in its new report that the decommissioning cost estimate on the UK Continental Shelf (UKCS) has dropped 25 per cent to £44.5 billion (about $54.2 billion). This cost reduction is equivalent to saving £15 billion (around $18.3 billion).
The North Sea Transition Authority’s Decommissioning Cost Estimate Report 2022 highlights the industry’s ability to generate “huge savings” for the Exchequer and carry out projects in a “more cost-effective manner,” as the cost of decommissioning oil and gas infrastructure has been cut by 25 per cent in the past five years.
News article on 4 August 2022 by Melisa Cavcic from offshore-energy.biz
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