Abstract

In recent years, proactive management of decommissioning liabilities within the petroleum industry has gained prominence, as the industry is confronted with the escalating scrutiny over environmental impacts, financial sustainability and management of decommissioning risks. Hence, the need for safe, environmentally healthy cessation of offshore petroleum infrastructure and operations to mitigate this concern. The study examines regulatory frameworks, financial mechanisms, and effective operational practices to mitigate economic and environmental risks associated with decommissioning in ...