SOURCE: Industrial Info Resources

Industrial Info Resources

May 04, 2016 07:30 ET

Offshore Decommissioning Projects Continue Escalating, an Industrial News Alert

SUGAR LAND, TX--(Marketwired - May 4, 2016) - Researched by Industrial Info Resources (Sugar Land, Texas) -- As thousands of participants gather for the Offshore Technology Conference in Houston, Industrial Info continues to closely track offshore oil and gas projects. While new drilling and exploration activity in the offshore sector has been on a downward trend since the downturn in oil prices, one aspect of offshore activity continues gaining speed -- decommissioning projects.

"Combined with the low oil price, low production in some fields and the maturity of some of the Offshore Platforms, Industrial Info Resources is currently tracking some 300 plus decommissioning projects, representing close to $15 billion in spending," says Gordon Gorrie, Industrial Info's vice president of research -- Oil & Gas Industry. "The cost in removing these structures not only covers the topsides and the jackets, but also the subsea installations and associated pipework that is tied-back to the platforms."

A substantial portion of these projects are occurring in Europe, including Royal Dutch Shell plc's (NYSE:RDS-A) (The Hague, Netherlands) decommissioning of four platforms and related infrastructure in the Brent Field in the North Sea. The overall project involves the decommissioning of the Alpha, Bravo, Charlie and Delta platforms in Block 211/29 and has a combined total investment value of approximately $629 million. The project will be phased in over time and represents just one of hundreds of such decommissioning projects being tracked by Industrial Info, providing information including bidding and project schedules, contact information for key decision-makers, contractor information and much more.

To learn more about these trends and other project information in the Oil & Gas sector, contact Industrial Info's client services on (713) 783-5147 or drop by Booth #9156 at the OTC show this week.

Browse other breaking industrial news stories at www.industrialinfo.com.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. To contact an office in your area, visit the www.industrialinfo.com "Contact Us" page.

Contact Information

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    Brian Ford
    (713) 980-9393