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Well-Safe’s main lever for cost reduction also depends on several operators committing to contracts tuxedo cufflinks uk sale. Ardent is also proposing to oversee a project from production to scrapping the metal onshore. Worley Parsons would operate the platform and maintain the equipment and Lloyd’s Register would plug the wells. “It’s a lot about an emerging set of companies and we don’t yet know which is going to be the winning model,” said Boston Consulting Group’s Philip Whittaker..

“One of the biggest sources of value is how to integrate the decom work with the final stages of the production work.”. With other fields maturing and drying up across the world and some experts expecting demand for oil to peak in the 2030s,the North Sea is a test bed for new decommissioning projects tuxedo cufflinks uk sale. If a company can plug oil wells without leaks and remove thousands of tonnes of steel platforms and pipelines, some 50years old, in the rough, deep seas between Scotland, England and Norway, they should be able to do it anywhere..

Industry body Oil and Gas UK, expects oil companies to spend17 billion pounds ($22.05 billion) on removing around 1,600wells, 100 platforms, and 5,500 km of pipelines in the next seven years. Some 840,000 tonnes of material will be returned to shore to meet environmental regulations. “We’ve got a mature basin with a steady flow of work,” said Joe Laesk, decommissioning manager at Oil and Gas UK tuxedo cufflinks uk sale. “Those resources and expertise can be exportable globally.”. The Gulf of Mexico has had decommissioning projects in its warm, calm waters for years but Southeast Asia is a new hot spot, with more than 1,500 platforms and 7,000 subsea wells expected to be uneconomical by 2038, according to the BCG. That is followed by Latin America, West Africa and the Middle East Gulf..

With so much potential, more established players are also trying different approaches to make decommissioning cheaper. Service vessel group Allseas is experimenting with new ideas. It specializes in subsea construction but is converting huge ships to lift structures as heavy as 48,000 tonnes in one haul. “We lift in a matter of hours and we’re gone,” said Allseas President Edward Heerema tuxedo cufflinks uk sale. The first job for Allseas’ Pioneering Spirit, the biggest construction vessel in the world, was in the Norwegian North Searemoving Repsol’s (REP.MC) 13,500 ton Yme production unit..

FRANKFURT (Reuters) – Deutsche Bank’s (DBKGn.DE) head of the Americas, Tom Patrick, is likely to leave the bank, possibly by the end of the year, two people with knowledge of the matter said on Wednesday. The change comes as Germany’s largest lender restructures its U.S. business and struggles with regulators. A U.S.-based spokeswoman for Patrick declined to comment. Deutsche Bank has made a raft of senior management changes this year, including its chief executive officer, as the bank seeks to become profitable after three years of losses tuxedo cufflinks uk sale.