Lloyd’s Register Presents New Decommissioning Service

Lloyd’s Register said it has launched a new decommissioning service.

Namely, the company said it is offering an integrated portfolio of late-life and decommissioning services to support operators, equity holders and regulators in key territories including the UKCS, Gulf of Mexico and across Asia in how best to manage their operations productivity, with minimal risk and cost effectively in the run up to cessation of production (CoP) and decommissioning.

“Operators are faced with a huge challenge and conflict between maximising economic recovery, a low oil price and decommissioning on the horizon,” says Alasdair Buchanan, energy director at Lloyd’s Register.

“We understand decommissioning requires an investment with little to no return for operators, accompanied by an element of ambiguity globally about the requirements set by regulators and uncertainty on long term liability. The onus is on operators to execute decommissioning in the most cost effective manner, especially in jurisdictions such as the UKCS where tax relief is available on decommissioning activities.”

The expertise covers subsea operations through to topsides, offshore and onshore technical and engineering solutions, project and data management, assurance and commercial services.

“Following several years of acquisition, we have the in-house capability to support industry across late-life operations and decommissioning. It is a unique offering from CoP preparation, planning and surveys, to plug and abandonment, waste management and monitoring post removal – all from one independent provider,” highlights Buchanan.