Clarksons: Big market for decommissioning in North Sea

The low oil price could force even more operators in the North Sea to decommission oil rigs and platforms, according to Clarksons. The winners could be the offshore carriers and the heavy-lift sector, as they could gain a whole new market.

Photo: Statoil

Up to 47 percent of the current oil and drilling platforms in the North Sea are approaching the point where they are no longer creating value in terms of oil and gas extraction.

But the field operators are keeping the offshore rigs in active in an attempt to postpone the significant costs related to decommissioning the large platforms and rigs. The companies are trying to extend the lives of the fields in question either through optimizing the extraction process or by attaching new fields to the existing rigs, says Clarksons in a new report.

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