UKCS Decommissioning Cost and Performance Report 2023
Country
Year
2023
Summary
The UK's offshore oil and gas industry spent £1.6 billion on decommissioning in 2022 - its highest annual total to- date. There is significant opportunity ahead for the sector, with £21 billion of spending on decommissioning forecast for the next decade alone. However, industry must maintain its focus on performance, collaborate effectively and urgently commit to decommissioning plans to achieve further cost-efficiencies in the face of challenging market conditions.