Ideas to slash well costs in North Sea secure £1.3m funds

Ideas to slash well costs in North Sea secure £1.3m funds
 

Four projects aimed at cutting North Sea oil and gas decommissioning costs have secured £1.3 million in backing from an industry technology centre.
The Aberdeen-based Oil & Gas Technology Centre received 48 submissions to a recent call for ideas to reduce the costs of plugging and abandonment of wells.
Over the next decade, 1,400 wells are forecast to be abandoned on the UK Continental Shelf (UKCS) at a cost of around £7 billion and the UK government’s Oil and Gas Authority (OGA) has set a target to reduce decommissioning costs by 35 per cent.
The four projects chosen include one being... read more

 
8 January 2018 in Business, Views: 50
Source: Scotsman
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