The costs of decommissioning oil and gas platforms in the UK’s North Sea could overtake capital expenditure in the industry by 2040, a new report from Offshore Energies UK has suggested. At the moment, decommissioning costs represent a relatively small part of oil and gas companies’ total spending. Last year saw decommissioning costs accounted for some 12% of total spending in the industry. This could rise to 25% in 2032 and keep rising to top capital expenditure by 2040. Over the next five years, more than 1,000 oil and gas wells in…
