The Net Zero Technology Centre (NZTC) has announced Harbour Energy, ConocoPhillips, Spirit Energy and Repsol Sinopec as members of its well decommissioning collaboration initiative.
Actively supported by the Technology Leadership Board (TLB), North Sea Transition Authority (NSTA) and Offshore Energies UK (OEUK), the well decommissioning initiative will enable new technologies to be trialled and tested in multi-operator collaboration field trials – both offshore in the UK and onshore in some international locations – enabling faster, lower-cost trials and wider industry adoption in the UK and beyond.
The NSTA has identified that well decommissioning represents circa 46% of UKCS decommissioning costs, or an estimated £20bn spend over the life of the basin. Technology best practice and innovation have a key role in helping operators reduce the cost of well decommissioning and deliver carbon emission reducing well decommissioning techniques.
Read the full story on the Aberdeen & Grampian Chamber website here.