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North Sea Oil Man Finds New Opportunities in Dying Fields

  • Fairfield CFO pivoted to decommissioning after oil-price crash
  • Industry will spend tens of billions removing old facilities
Maersk Drilling CEO Jorn Madsen in No M&A Rush as Rig Stocks Yet to Bottom
Photographer: Carina Johansen/Bloomberg
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Graeme Fergusson sees life in the death of an oil field.

Five years ago, the blonde-haired native of Aberdeen, Scotland had a fairly conventional role in the industry, focusing on squeezing every drop of crude from reservoirs in the North Sea. But a brush with the worst oil slump in a generation sent his career on a detour and he’s now more inclined to perform last rites on a field than to keep it alive.