Decommissioning Costs Could Overtake Oil and Gas Capex in the UK by 2040

The costs of decommissioning oil and gas platforms in the UK’s North Sea could overtake capital expenditure in the industry by 2040, a new report from Offshore Energies UK has suggested.

At the moment, decommissioning costs represent a relatively small part of oil and gas companies’ total spending. Last year saw decommissioning costs accounted for some 12% of total spending in the industry. This could rise to 25% in 2032 and keep rising to top capital expenditure by 2040.

News article on 21 November 2023 by Charles Kennedy from oilprice.com


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