Asia Pacific Decommissioning Market Set to Boom

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With 600+ platforms in the Asia Pacific over 25 years old, it is clear to see just how large the decommissioning industry in the region is set to be. These figures represent a significant exposure for International and National Oil Companies operating in the region.

DecomWorld's Gulf of Mexico Offshore Decommissioning Report 2010 has uncovered that the average cost of a well P&A project is $750k USD, for a complete platform removal project it is $2.5m USD. These estimates have been based on a region with a well established network of providers, with a large amount of decommissioning experience and where government regulations are well known and understood whereas the decommissioning in the Asia Pacific presents new challenges and bigger risks.

When speaking to Tongchai Tonsuwunnarat, the Senior Facilities Engineer for Chevron Thailand, he explained to DecomWorld that “Decommissioning is new to this region and many countries are developing their own regulation for decommissioning. Collaboration between authorities and industries is required to develop a proper regulation which can result in benefits for both government and private sectors,”

In order to help the industry to discuss strategies that will be suited to help decommissioning efforts in the region, DecomWorld have put together the 2nd Annual Offshore Decommissioning Summit for the Asia Pacific region (http://www.eyeforenergy.com/asiapac). This timely event will bring together national, major and independent oil companies working in the region as well as leading government regulators and local contractors in order to discuss a forward strategy for the region.

Operators and contractors seeking to gain a firmer understanding of the initial guidelines being developed in the Asia Pacific region by local regulatory bodies will relish the opportunity to attend the 2nd Annual Offshore Decommissioning Summit to hear from Shell Malaysia, Chevron, BP, Eni, Department of Mineral Fuels (Thailand), Reverse Engineering and the Malaysia Oil and Gas Services Council to name but a few. This summit is being endorsed by the Petroleum Institute of Thailand and will be bringing together both National and International Oil Companies as well as leading contractors, service providers and government officials.    

The 2nd Annual Offshore Decommissioning Summit, Asia Pacific 2010 is scheduled to take place on October 13-14 in Singapore.

For more information, click here:
http://www.eyeforenergy.com/asiapac/agenda.shtml

Contact:

Dean Murphy
Senior Industry Analyst

Tel: +44 (0) 207 375 7204
Email: dmurphy(at)eyeforenergy(dot)com

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Dean Murphy
DecomWorld
+44 (0) 207 375 7204 ext. 7204
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