North Sea Decommissioning Presents £20bn Opportunity and Thousands of Jobs Over Next Decade
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Decommissioning oil and gas infrastructure in the North Sea represents a £20bn opportunity over the next 10 years. Work is shifting to the central North Sea as southern fields decline.
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Competition with offshore wind farms for vessels and skilled workers could drive up costs if not properly coordinated. Several new decommissioning yards will be needed on the Scottish east coast.
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By 2031, two-thirds of decommissioning work will be in the central North Sea. Over 37,000 concrete mattresses holding down pipelines will need removal.
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Well decommissioning is a major focus, with over 1,000 to be sealed in the next 4 years. Subsea infrastructure removal will ramp up from 2026-2032.
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Government support needed for UK companies to maximize opportunities, though shipping capacity is already foreign-owned. Thousands of skilled jobs and billions in contracts available.