Embracing Australia's decommissioning liability

2021 ◽  
Vol 61 (2) ◽  
pp. 495
Author(s):  
Andrew Taylor ◽  
Stephen Stokes
Keyword(s):  
Cost Reduction ◽  
Service Sector ◽  
Oil And Gas ◽  
Technology Development ◽  
Collaboration Technology ◽  
Group Of Seven ◽  
The United Kingdom ◽  
The World ◽  
Offshore Oil And Gas ◽  
Offshore Oil

Improving visibility of when and where oil and gas assets are approaching end of life has provided the foundation for transformation of decommissioning planning and execution around the world. A baseline understanding of decommissioning established by Oil and Gas UK fed into the much lauded Maximising Economic Recovery strategy, and provided a platform for government to pursue a 35% cost reduction target for decommissioning in the United Kingdom. In the Netherlands, one of the first four priorities pursued to maximise value through decommissioning was the establishment of a national decommissioning database, which aimed to create an integrated view of decommissioning scope and timelines. In 2020, funded by NERA and a group of seven operators, Advisian delivered the first operator-supported assessment of Australia's decommissioning liability and outlook. This outlook lays the foundation for initiatives that support knowledge sharing, service sector engagement, collaboration, technology development, efficiency and reduced stakeholder burden. This joint presentation by NERA and Advisian will provide an overview of NERA's decommissioning strategy and the data that underpins this strategy, the Advisian ‘Offshore Oil and Gas Decommissioning Liability' assessment for Australia.

Legislation On Oil Pollution Prevention And Control During Petroleum Production

1988 ◽  
pp. 1-6 ◽  
Author(s):  
Dr. Abu Azam Md. Yassin
Keyword(s):  
Prevention And Control ◽  
Oil And Gas ◽  
Oil Pollution ◽  
Pollution Prevention ◽  
The World ◽  
Pollution Prevention And Control ◽  
Offshore Oil And Gas ◽  
And Control ◽  
Offshore Oil ◽  
And Storage

Malaysia has long been victim of oil pollution well before the start of her own offshore exploitation of oil. With the effort to exploit offshore oil and gas, Malaysia has now become causer of pollution herself. Legislation existed for oil pollution prevention and control, along each and every stage of offshore petroleum operations which include exploration, development, production, transportation, treatment and storage. But procedures to explain the existing legislation is lacking and hence it is important to expound the existing legislation for controlling and preventing oil pollution from offshore operation in line with current practices around the world.

New Developments in the Disposal of Offshore Installations

1999 ◽  
Vol 14 (4) ◽  
pp. 523-540
Author(s):  
Louise de La Fayette
Keyword(s):  
Oil And Gas ◽  
National Level ◽  
Regulatory Regime ◽  
New Developments ◽  
The United Kingdom ◽  
Offshore Installations ◽  
Scientific Group ◽  
Offshore Oil And Gas ◽  
Public Reaction ◽  
Offshore Oil

AbstractIn 1995, Greenpeace International protested the proposed ocean dumping of the offshore installation, Brent Spar. This protest prompted a strong public reaction which in turn led to the recycling of the Brent Spar on land and also to a reconsideration of the relevant legal regime under the OSPAR Convention. In July 1998, the OSPAR Commission meeting at the ministerial level adopted a ban on the disposal of offshore oil and gas installations at sea. Since that time, there have been further developments at the global, regional and national level. This article examines these developments at the OSPAR Commission, at the European Parliament, by the Scientific Group of the London Convention 1972, and in the United Kingdom, which is now implementing the OSPAR decision in its national regulatory regime.

scholarly journals Efficiency Assessment of Economic International Cooperation in Development of Arctic Offshore Oil and Gas Resources

2015 ◽  
pp. 128-136
Author(s):  
P. V. Beresneva
Keyword(s):  
Public Policy ◽  
International Cooperation ◽  
Net Present Value ◽  
Oil And Gas ◽  
Technology Development ◽  
Cash Flows ◽  
Oil And Gas Resources ◽  
Offshore Oil And Gas ◽  
Definition Of ◽  
Offshore Oil

The research is focused on efficiency assessment of economic cooperation in development of Arctic offshore oil and gas resources. The author developed an economic model based on cost-benefit analysis (CBA). CBA is used in some countries (EU, USA, Australia) as an analytic tool to make public policy decisions. CBA is based on the method of discounting cash flows associated with costs and benefits of public policy. It is assumed that all public goals are equally important inter alia, hence public bodies should opt for those initiatives that maximize public benefits for every dollar spent from the state budget. There are five stages of economic modeling: 1) the definition of public benefits and costs associated with the public initiative; 2) monetary valuation of costs and benefits; 3) the definition of discounting period and discounting rate; 4) the calculation of net present value of cash flows; 5) the comparison of initiatives' net present values. The model is built with a number of hypotheses assumed. It allows making evaluation of investments into the technology to decrease the cost of Arctic offshore oil and gas development. Moreover, the model has two scenarios describing a public policy to support technology development with international economic cooperation and without it. Under given hypotheses both scenarios return positive net present value of policies which proves that governmental initiative to support Arctic technology development is economically justified. Also the model sows that the scenario with international cooperation is more efficient from economic point of view. It is explained by two factors: the higher speed of technology transfer (due W international cooperation) and the opportunity to use financial leverage (attracting the funds from foreign partners). The model allows closing the existing scientific gap between the theory of CBA method and its practical use in public decision making.

scholarly journals Old Oil Rigs Never Die

2019 ◽  
Vol 141 (11) ◽  
pp. 36-41
Author(s):  
Lina Zeldovich
Keyword(s):  
Oil And Gas ◽  
State Of The Art ◽  
Oil Wells ◽  
Engineering Project ◽  
The World ◽  
Offshore Oil And Gas ◽  
Pumping Equipment ◽  
Offshore Oil

Abstract Offshore oil and gas platforms are among the largest structures humanity has ever built. There are more than 7,500 of them towering up from seas all over the world, according to some recent estimates. As wells dry up and pumping equipment wears down, those structures are likely to become obsolete in the upcoming decades. Those oil wells will have be decommissioned and capped off and the platforms taken down. But taking down an offshore oil platform and the tower that supports it is no simple assignment. It is a massive engineering project that requires state-of-the-art equipment.

Sign in / Sign up

Export Citation Format

Share Document