Monday, February 2, 2015

Say Good Bye To The North Sea Oil Production

Shell will soon prepare 10 year program to possibly decommission some of the largest North Sea oil fields. From the FT:
Royal Dutch Shell will on Tuesday set out ambitious plans to decommission the North Sea’s Brent oilfield — one of the UK’s biggest — in a multibillion-dollar project over the next 10 years that could be followed by other closures after the plunge in oil prices. 
The Anglo-Dutch energy group will within days begin public consultation on a disposal plan for the “topside” of Brent Delta — one of four platforms in the field that gave its name to the international crude price benchmark. Shell is anxious to avoid a repeat of the public furore 20 years ago over its attempt to dump the Brent Spar oil storage buoy in the Atlantic Ocean.