An oil and gas decommissioning consortium was created, aiming to offer an end-to-end solution from industry leaders, in order to reduce the decommissioning burden, risk and cost for operators. The new global decommissioning consortium includes LR, WorleyParsons, and Ardent.
This consortium includes experts covering all aspects of decommissioning, from late life management to planning, readiness for removal, execution, waste management and monitoring post removal. The consortium takes well operatorship, duty-holdership and title of offshore structures, in addition to providing independent third-party assurance.
Steve Gilbert, Director of Asset Management and Decommissioning from LR, noted:
Decommissioning can be daunting; the cost uncertainty, the colossal project scope and the unknown long-term liabilities. The consortium helps to reduce the overall cost, time and liability burden for operators and allows them to focus resources on more fruitful activity, knowing that their decommissioning project is in safe hands. As experts in asset and risk management, and a number one provider of verifications services, this approach will assure safety, efficiency and reputation.
The consortium aims to deliver smarter decommissioning activities with end to end project management and execution for operators in Europe, Asia and Americas that include best practices from other sectors like float and tow, used in salvage.
The members of the consortium want to ensure project efficiency, regulatory compliance and cost certainty in the execution of decommissioning activities, wherever in the world the assets may be.
John Cox, Global Decommissioning Lead, WorleyParsons, added:
The value for industry is that our combined expertise covers the full decommissioning lifecycle. We have the unique capability to become well duty holders and take title of offshore structures plus we offer independent assurance throughout the decommissioning process. This consortium provides a new benchmark in cost-effective decommissioning activities, with safety and peace of mind for the operator.
Global spending on oil and gas decommissioning is expected to be $13bn per year by 2040.
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