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Well Abandonment and Decommissioning – Current Issues
be provided or arranged by a single-source company. When multiple been produced. “This provides an attractive buyer with expertise in
services are provided by one company, lower project costs can result. the decommissioning process to whom exploration and production
Edwin Goldman, Senior Vice President of the Offshore Division of TETRA companies can sell mature fields.”
12
Technologies, Inc., remarks, “As TETRA expands its range of
decommissioning services globally, we are mindful of increasing costs. We Conclusion
feel that a way to mitigate costs is through the provision of integrated The cost of plugging and decommissioning end-of-life oil and gas assets
services under one roof.” has been continually increasing over time, and it is expected that this trend
will continue. Once the world’s economies begin to recover from the
Another cost-reducing solution offered by some integrated current recession and return to growth, the price of oil and gas that is
companies is to provide oil- and gas-producing property owners with needed to fuel that growth will rise, as any shift away from fossil fuels as
an avenue for asset divestment. The divesting of sunset properties a primary energy source will be a lengthy process. Therefore, near-term
allows the selling company to free up its personnel in order to solutions for reducing well abandonment and infrastructure
strategically focus on the exploration and production activities of decommissioning costs are required. These near-term solutions are
more lucrative properties. A single-source provider such as TETRA available through planning, innovation and the application of new
Technologies, Inc. offers this option through its wholly-owned technologies by the companies providing decommissioning services,
subsidiary Maritech Resources, Inc., which acquires and operates single-source service providers offering multiple decommissioning services
mature oil and gas fields and manages the final decommissioning of and operators taking advantage of divestment opportunities to unburden
the wells and infrastructure after all remaining hydrocarbons have themselves of sunset oil and gas property liabilities. ■
1. Cambridge Energy Research Associates (CERA), Available
www.usatoday.com/weather/hurricane/2007-07-29-more- 9. Federal Register, Available at:
ecfr.gpoaccess.gov/cgi/t/text/
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www.decc.gov.uk/pdfs/cera-report.pdf (accessed 31 hurricanes_N.htm (accessed 4 February 2009). text-idx?c=ecfr&tpl=/ecfrbrowse/Title30/
January 2009). 6. US Department of the Interior, Minerals Management 30cfr250_main_02.tpl (accessed 3 February 2009).
2. Eustace J, Odling D, Rivara A, Tholen M, Available at: Service, Available at: 10. Obama B, Available at:
www.whitehouse.gov/agenda/
www.oilandgas.org.uk/issues/economic/econ08/index.cfm
www.gomr.mms.gov/homepg/whatsnew/hurricane/2005/ economy/ (accessed 4 February 2009).
(accessed 5 February 2009). katrina.html (accessed 4 February 2009). 11.
www.thaidecom.com
3. Kaiser MJ, Dodson R, Foster M, Louisiana State University, 7. US Department of the Interior, Minerals Management 12. Anderson E, Available at:
www.epmag.com/archives/
2008. Service, Available at:
www.gomr.mms.gov/index.html managementReport/774.htm (accessed 6 February 2009).
4. AFX News Limited, Available at:
www.rigzone.com/ (accessed 4 February 2009). 13. Historical Crude Oil Prices, 2008. Available at:
news/article.asp?a_id=72463 (accessed 6 February 2009). 8. Hartwig RP, Available at:
www.iii.org/media/presentations/ www.inflationdata.com/inflation/Inflation_Rate/Historical_
5. Vergano D, Study Links more Hurricanes, Available at: energy/ (accessed 2 February 2009). Oil_Prices_Table.asp (accessed 6 February 2009).
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