Decommissioning, Abandonment and Rehabilitation

Late life asset management

Decommissioning, abandonment and rehabilitation

In the past, decommissioning was often an overlooked aspect in the energy lifecycle. However, with tightening regulations, heightened environmental awareness and the large number of facilities approaching the end of their operational life, greater emphasis is being placed on understanding abandonment liabilities. Regulatory authorities are now asking operators to consider asset decommissioning and the use of existing infrastructure before sanctioning greenfield projects. With estimates suggesting global offshore decommissioning costs will rise from US$5.2 billion in 2021 to US$13 billion per year by 2040, project teams need to understand decommissioning options early in the project design phase.

Our expertise

RISC has collaborated with clients on late life assets for over a decade, helping them understand the issues associated with cessation of production, and the preparation and execution of decommissioning, monitoring, abandonment and rehabilitation of both onshore and offshore projects. Our holistic approach enables us to verify the veracity of plans, costs and schedules related to these activities. Where appropriate, RISC has a successful track record of challenging and changing operator plans, cost and schedule estimates for decommissioning programs. We can:

  • Assess the proposed plans against known and anticipated regulations and international best practices.
  • Provide an independent view on any additional measures required or alternative approaches available.
  • Deliver an independent opinion on the likely cost and schedule ranges for the proposed decommissioning project.
  • Identify key risks and opportunities for the proposed project.

Martin Wilkes

Martin has over 35 years of experience in the international energy industry. He has advised on over 30% of the world’s LNG capacity and on several multi-billion-dollar transactions. Martin is a Fellow of the Institution of Chemical Engineers, a chartered Environmentalist and a member of the Association of International Energy Negotiators.

Ian Gladman

Ian is a chartered chemical engineer with over 20 years of experience in the upstream energy industry. He has experience in technical and commercial due diligence for financial institutions, field development planning, owners’ engineering activities and FPSO contracting strategies.

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