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Decommissioning fund expansion could spell global opportunities for offshore supply chain - Mr Abraham

Gasoil News - Published on Tue, 14 Aug 2018

Image Source: oilprice.com
The leading representative association for the UK’s offshore oil and gas industry said that a fresh round of funding for decommissioning projects, announced by the Scottish Government today, has the potential to bolster the supply chain’s standing on the world stage.

GBP 5 million has been made available in the Scottish Government’s Decommissioning Challenge Fund with a widened scope to cover both capital and resource projects. Applications for the latest round are now being accepted and will close on the 28 September 2018.

In response to the latest announcement from the Decommissioning Challenge Fund, Oil & Gas UK Supply Chain director, Mr Matt Abraham said “The UK’s offshore oil and gas industry has a world-class supply chain with the capabilities and expertise to lead the way in decommissioning.”

Mr Abraham said that “With a commitment to reducing decommissioning costs while serving this legal obligation, this fresh round of funding has the potential to bolster the supply chain’s reputation and open new opportunities in emerging markets.”

He said that “The decommissioning market is now a steady feature on the UKCS landscape alongside continued upstream operations. Our message to the supply chain is to realise this opportunity with both hands and help establish the UK plc as a leader in this area.”

Source :

Posted By : Nanda Koijam on Tue, 14 Aug 2018
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