North Sea regulator urges accelerated decommissioning by oil & gas operators, citing delays and rising costs.
North Sea regulators warn oil and gas operators to accelerate decommissioning efforts, with the majority completing less work than planned. The North Sea Transition Authority (NSTA) is "getting tough" on operators not meeting their regulatory obligations, as delays to well plugging and abandonment contribute to rising costs. The estimated decommissioning bill for the UK Continental Shelf is expected to reach £24bn between 2023 and 2032.
July 16, 2024
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