Several hundred offshore oil and gas wells could cease production by 2021 in the face of today’s bearish oil market. As a consequence, so-called decommissioning obligations in the global oil and gas industry rose to $11.7 billion last year and are projected to hold steady at an average of about $12 billion per year from 2019 through 2021, according to Rystad Energy. “2018 was an all-time high, and the next years are set to break this record,” said Rystad Energy partner Audun Martinsen. “To put this into context, the…
