Many of Indonesia’s oil and gas fields, both on and offshore, are coming to the end of their commercially viable operational lifespan. More than 60% of Indonesia’s oil and more than 30% of gas production comes from late-life-cycle resources spread across the world’s largest island country. Despite investment and use […]
Tag: Quatre Ltd
Fortunately for the taxpayer, London based firm Quatre Ltd provides a financial solution. Its Environment Trust (ET), will if adopted by the government, protects both the taxpayer and landowner from the possible decommissioning risks should an operator become bankrupt.
The oil and gas industry needs a decommissioning strategy to help meet the UK’s Paris Accord commitments and the net zero carbon emissions by 2050 target, as the country moves ahead in its energy transition. Decommissioning is only one strand of the oil and gas sector’s efforts to reduce their carbon footprint and, at the same time, is an essential requirement to ensure continuing investor and government support in new North Sea projects.
It is in the interest of both government and energy companies to bring some certainty into their liabilities and ability to pay.
In many established oil and gas production areas, such as the Gulf of Mexico, the North Sea and elsewhere, an increasing number of fields are coming to the end of their planned operational lives. Therefore, global decommissioning costs are expected to rise… In many established oil and gas production areas, such as […]