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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