UK Oil and Gas Decommissioning Could Overtake Capex by 2040, Industry Group Says
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The amount of money spent on dismantling aging North Sea oil and gas infrastructure could overtake capital expenditure by 2040, according to the sector’s leading UK trade group.
More than 1,000 wells are set to be sealed in the region from now until 2027, while 200 new wind turbines will be installed, Offshore Energies UK said in its Decommissioning Insight 2023 report. That represents “a considerable infrastructure and workforce challenge,” it added.