The Challenge in Decommissioning
£27 billion is forecast for decommissioning between 2023-2032.
Most subsea equipment still ends up scrapped. That creates three challenges:
1. Lost value on reusable kit
2. Higher costs for operators
3. Wasted assets with operational life remaining
The industry has already demonstrated that collaboration can reduce costs by 20%. Circular decommissioning offers the next opportunity for cost efficiency.
Next post: How this works in practice.
