A recent report on decommissioning provides up-to-date predictions for the future costs of dismantling infrastructure in the United Kingdom Continental Shelf. It is the first financial estimate by the Oil & Gas Authority (OGA) since the regulator was established in 2016. The methodology used is different from that of previous surveys.
The report is noteworthy in its application of the new statutory requirement of Maximising Economic Recovery (MER). As applied to decommissioning, this requires that persons undertaking an activity must do so in a cost-effective way. This includes employing new and emerging technology. The report emphasizes the potential to reduce costs by the application of MER.