Report highlights potential boom in oil rig dismantling and decommissioning.
The cost of dismantling North Sea oil and gas platforms is forecast to reach £19bn over the next 30 years.
A new report by industry specialists said there were about 260 platforms to be decommissioned. Consultants Deloittes and Douglas-Westwood said the work presented “big opportunities” for those in the industry. They estimate the value of contracts to process the aged structures could be worth $1bn (£630m) a year.
The projected workload is expected to exceed the capacities of the existing heavy lift vessel fleet and onshore deconstruction facilities. That could present opportunities for future recycling yards and oil well service companies.
The report also highlighted that the majority of decommissioning activity and related spend would occur between 2017 and 2027.
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