US Watchdog Slams Oil Industry’s Slow Retirement of Aging Wells
A offshore worker climbs a staircase on deepwater oil platform in the Gulf of Mexico off the coast of Louisiana, US.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
Thousands of aging offshore oil wells and platforms in the Gulf of Mexico are overdue for plugging and cleaning up, exacerbated by the Department of Interior’s lax oversight, a US government watchdog said.
The Government Accountability Office found that oil and gas operators missed the one-year deadline to plug more than 40% of wells and remove 50% of platforms for Gulf leases that ended in 2010 through 2022, a report published Tuesday shows. The unmet decommissioning obligations pose serious environmental, safety and financial risks, the GAO said.