The abandonment of fields in the North Sea raises a number of physical, environmental, and economic issues. Key economic aspects are (a) the costs incurred in the abandonment operations; (b), the criteria to be employed in determining the optimal timing of field abandonment; (c), the fiscal reliefs available for the expenditures incurred; and, (d), the (financial) security aspects relating to the activity. These topics are discussed in this paper with particular reference to the UK Continental Shelf (UKCS). Comparisons with Norway and the Netherlands are made on the fiscal aspects.
- Economics and fiscal aspects
- Field abandonment