Global Oil Firms Adopt Measures To Drive Cost-efficient Projects

Global oil companies are keying into new measures that will protect efficiency through significant cost reduction.

Cost-efficient decommissioning has received a significant boost with the relaunch of a bigger, better digital data dashboard providing vital information about upcoming work to potential suppliers.

The Decommissioning Data Visibility Dashboard now includes; field-specific information from 15 operators, compared with three when it was piloted by the North Sea Transition Authority (NSTA) and the Decommissioning and Repurposing Taskforce (DaRT) in November 2021.

Participating operators include bp, CNOOC International, CNR International, Dana Petroleum, ENI UK, EnQuest, Harbour Energy, Neptune Energy, One-Dyas, Repsol Resources UK, Shell, Spirit Energy, TAQA, TotalEnergies and Waldorf Production.

The interactive dashboard gives suppliers the confidence to invest in technologies and training by reducing the uncertainty and lack of transparency around the timing of decommissioning activities.

It showcases a wide range of information about companies’ UK Continental Shelf decommissioning portfolios, including much sought-after work schedules.

Using data from the annual UKCS Stewardship Survey, it shows how many wells, subsea structures and pipelines the companies plan to decommission – and the weight of platforms to be removed – over the next five years.

Publishing this information encourages early engagement between operators and suppliers and helps service providers understand what skills and resources will be in demand.

In addition, operators can use the data to identify opportunities to decommission wells together through campaigns which can help deliver savings.

In the face of competition for services from other regions and sectors, effective planning is vital to ensuring that resources are available at the right time and projects are carried out cost-efficiently.

This supports industry’s efforts to lower the cost estimate for decommissioning UKCS oil and gas infrastructure by 10% to £33.3 billion by end-2028, reducing the burden of tax relief on the Exchequer and freeing up funds which can be invested in energy security and net zero projects.

The dashboard complements the NSTA’s Energy Pathfinder portal, which advertises near-term contracting opportunities for energy supply, low-carbon and decommissioning projects in the UK.

NSTA head of Decommissioning and DaRT Co-Chair, Alastair Bisset, said: “Suppliers need to know when decommissioning work is going to happen so that they can invest with confidence and plan effectively. The dashboard was created to help plug this knowledge gap, so it is very satisfying to see this group of leading operators put their weight behind it.”