North Sea is Not Dead

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. 

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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...

Share this post


Link to post
Share on other sites
Sign in to follow this  
Followers 0