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The hidden costs of decommissioning – decommissioning procedures, practices and risk

15 October 2019

London, United Kingdom

Details

Date:
15 October 2019
Time:
1:10pm - 1:55pm
Category:

Venue

The Old Library, Lloyd’s of London
One Lime Street
LondonEC3M 7HA United Kingdom
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In this Insurance Institute of London (IIL) marine & energy lecture Captain Stephen Norman will provide an overview of the removal process for offshore assets and the risks that should be considered prior to and during removal and transportation to the disposal yard.

Offshore assets – harder to take apart than put together!

The decommissioning process refers to the complete process of making safe, plug and abandonments, removal and disposal of an offshore asset at the end of its natural life. This lecture will focus on the removal process identifying considerations for the placement of a Decommissioning All Risks (DAR) policy and how increasingly the process for removal is becoming fluid with the adoption of new technology and equipment, sometimes with very little warning.

The wide variety of assets means that there are many differing methods for removal and the schedule, cost and risk to life, property and the environment can therefore vastly differ. Whilst some assets are identified for disposal others may be reused and therefore how do you ensure that the integrity of the asset is being maintained during its removal, transportation and potential reinstallation? Is it acceptable for the structure to deform plastically or to buckle and what does this mean when choosing the removal methodology?

This lecture will consider the above challenges, looking at advances in technology, regulations and equipment and what that may mean to the removal process.

By the end of this lecture members would have gained an insight into:

• What removal options currently exist
• Necessary considerations when choosing removal options
• What to look for prior to and during the transportation

Chair:
Robert Weald, Executive Director, Marine Energy and Natural Resources Division, Price Forbes and Partners Ltd.

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