08 September 2021 / Asia Pacific
September 24th, 2021
We’ve been awarded two projects by the Centre for Decommissioning Australia (CODA) to reframe Australia’s energy transition and decommissioning challenge as a shared economic, environmental, and social opportunity.
In Australia’s offshore oil and gas sector alone, more than AU$50 billion of work is needed to decommission and remove equipment as aging assets come to the end of their life and the industry shifts to cleaner options. The majority of this work needs to happen in the next 20 years.
This is an opportunity for Australia to become a leader in repurposing and decommissioning. By using alternative retirement options, emerging technology and decommissioning efficiency, the industry could save a potential 35 percent (or AU$17.5 billion).
Creating a local decommissioning market that supports a circular economy
Our team will work with CODA to identify sustainable opportunities to build a local supply chain around recycling pathways or repurpose assets to develop emerging energy technologies. For example, using the steel from offshore oil and gas platforms in ‘green’ energy infrastructure to incentivize a recycling industry for assets of this scale.
We’ll also review best practices from mature decommissioning regions around the world to reduce cost and risk.