A significant number of offshore oil and gas installations in the Asia Pacific region have either exceeded or are approaching the end of their designed economic life. When offshore oil and gas infrastructure is no longer needed, it is either fully or partially removed and disposed or repurposed for other uses. Operators and contractors are confronted with an array of challenges that hinder the cost-effective and safe completion of decommissioning projects.
As such, a study is always inevitable to accurately evaluate the feasibility and the anticipated decommissioning cost for the structures. IEV capabilities in decommissioning cost estimation and feasibility study including high level engineering assessments and experience in performing EPRD contracts, provide the operators and owners of the structures realistic cost estimations for their future major spending at the end of their structure/field life. Most regulators require owners of offshore facilities to contribute annually to the Decommissioning Cess fund to cover the cost of decommissioning the structures at the end of its life and this is where IEV’s expertise in cost estimations can assist the owners to determine the quantum needed.
IEV’s Decommissioning Group is based out of our headquarters in Malaysia where the bulk of the group’s specialist decommissioning skills and knowledge resides, via involvement in the Asia Pacific decommissioning work. The team will be supplemented with experts from IEV’s foreign based consultants and specialist subcontractors, providing deliverables in compliance with stakeholder’s requirements, such as :
- Regulatory Compliances
- Work Scoping
- Comparative Assessment
- Environmental Planning & Studies
- Engineering Assessments & Methodology
- Hazardous Waste & Disposal Studies
- Cost Estimation & Scheduling
- Risk Assessment
- Cost Benefit Analysis
- Decommissioning Training
- Project Management Consultancy
Since 2005, IEV has conducted in excess of 16 studies and assessments for both National Oil Companies(NOCs) and Independent Oil Companies(IOCs) in Asia Pacific, and is currently engaged in providing decommissioning studies for offshore fields in Malaysia which are to be decommissioned due to depleting production from the field and conceptual abandonment plans for fields which are yet to come on stream.
For further information on our Decommissioning capabilities, visit : https://www.iev-group.com/decommissioning-studies/