Decommissioning Insight Report 2015

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Decommissioning Insight Report 2015
Decommissioning Insight Report
2015
Janine Jones
Contents
Decommissioning Insight Background
Survey Improvements
Market Insight Results
Expenditure
Oil Price Impact
Activity
Conclusions
Decommissioning Insight 2015
Decommissioning Insight Background
Established
2010
Aggregated
and
anonymised
data
10-year
Expenditure
and activity
forecasts
Improved
annually
Decommissioning Insight 2015
2015 Survey – Additional Analysis and Improvements
• The impact of the oil price on decommissioning
• Analysis of forecast cost per tonne for ‘making safe’ of facilities for removal
• Template improved to make inclusion of FPSO projects easier
• Norwegian decommissioning activity has been surveyed separately to give a
picture of North Sea wide decommissioning activity
Decommissioning Insight 2015
Expenditure
Decommissioning Insight 2015
Forecast Expenditure
£16.9 billion over
the next decade
Increase of £2.3
billion compared
to the 2014
forecast
Decommissioning Insight 2015
Results – Oil Price Impact
Oil price is one of many factors that will influence the timing of cessation of
production.
• 47 new projects in survey timeframe
• Brought forward decommissioning in some cases
• Led operators to more robustly consider decommissioning plans
• 21 projects deferred
• Efforts to extend field life
• Increase cash flow in the current climate
Decommissioning Insight 2015
Forecast Expenditure Comparison to 2014 Survey
SNS and Irish Sea
CNS and NNS/WoS
Forecast
Expenditure
2014 Report
Central and Northern North
Sea/West of Shetland
£11.1 billion
2015 Report
£14.1 billion
Southern North Sea and Irish Sea
£3.5 billion
£2.8 billion
Decommissioning Insight 2015
Activity
Decommissioning Insight 2015
Decommissioning over the next 10 years
Installations
Pipelines
79
5,618 km
Wells
1,224
Mattresses
9,495
Subsea Infrastructure
82,480
tonnes
Decommissioning Insight 2015
Results – Expenditure by Component of Work
Breakdown Structure
Decommissioning Insight 2015
Well Plugging and Abandonment
Decommissioning Insight 2015
Well P&A Forecast CNS and NNS/WofS
Central North Sea
Northern North Sea & West of Shetland
950 wells, £6.2 billion
Decommissioning Insight 2015
Well P&A Historical Expenditure Forecasts
CNS and NNS/WofS
Decommissioning Insight 2015
Well P&A Forecast – SNS and Irish Sea
274 wells
£1.5 billion
Decommissioning Insight 2015
Well P&A Historical Expenditure Forecasts
SNS and Irish Sea
Decommissioning Insight 2015
Removals
Decommissioning Insight 2015
Topside Removal – CNS and NNS/WofS
255 modules on
22 platforms
£1.1 billion
Decommissioning Insight 2015
Topside Removal – SNS and Irish Sea
66 modules on 57
platforms
£250 million
Decommissioning Insight 2015
Substructure Removal - UKCS
150,000 tonnes
£800 million
70% in CNS and
NNS/WofS
Decommissioning Insight 2015
Pipeline Decommissioning
Decommissioning Insight 2015
Pipeline Decommissioning – CNS and NNS/WofS
2,200 kilometres
£812 million
Decommissioning Insight 2015
Pipeline Decommissioning – SNS and Irish Sea
3,500 kilometres
£118 million
Decommissioning Insight 2015
Tonnage Coming Onshore
CNS and NNS/WofS
SNS and Irish Sea
620,000 tonnes in total
£175 million
Decommissioning Insight 2015
Decommissioning Insight 2015
Press release launched today
The Decommissioning Insight Report 2015 is available to download at
http://oilandgasuk.co.uk/decommissioninginsight.cfm
Decommissioning Insight 2015

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