An oil drama is playing out off the Shetland Islands regarding the decommissioning of a platform – or rather the lack thereof. Oil major Shell is in the line of fire but is supported in its desire for a compromise.
It will take four to five years for newly established Maersk Decom to produce its first profit. "We're in an upstart phase where we have to invest in getting the business up and running," CEO Lars Banke tells ShippingWatch.
The new offshore venture established between Maersk Supply Service and Maersk Drilling now has its senior management team in place as well as a name. The new partnership will partake in an expected billion dollar market to decommission rigs.