North Sea is Not Dead

[Marina Schwarz + 1,576]

First Big Oil sells assets in the North Sea and there's a cry to high heaven regarding decommissioning costs of oil fields and now they are making new discoveries. Am I the only one confused? They are bringing production costs down but still. 

[Rodent + 1,424]

1 hour ago, Marina Schwarz said:

First Big Oil sells assets in the North Sea and there's a cry to high heaven regarding decommissioning costs of oil fields and now they are making new discoveries. Am I the only one confused? They are bringing production costs down but still. 

Decommissioning funds should have to be set aside in escrow prior to drilling. Don't have enough to decommission when you're done? Then you can't drill. This problem is getting out of hand.

[Marina Schwarz + 1,576]

I guess they weren't thinking about it during the boom years. Typical of humankind.

[TomTom + 183]

I read yesterday that BP made some new discoveries, so I guess this oil play will continue to produce oil for another couple of decades...