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Australia consults on offshore greenhouse gas storage sites

Australia consults on offshore greenhouse gas storage sites
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Multi-billion dollar plug and abandonment market emerges in Australia

Multi-billion dollar plug and abandonment market emerges in Australia Australia is on the verge of its largest-ever wave of decommissioning as offshore development wells reach the end of their producing life. This is both adding headaches for producers and creating a multi-billion dollar opportunity for plugging and abandonment (P&A) suppliers. Updated: 02/07/2021, 1:50 am ExxonMobil has huge decommissioning liabilities in Australia Photo: Andrew Harrer/Bloomberg Register here for the Energy Voice daily newsletter, bringing you key news and insight from across the global energy landscape. Thank you for signing up to our newsletter. Something went wrong - please try again later.

Australia launches 2021 offshore exploration round

Australia launches 2021 offshore exploration round
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Australia: With hundreds of Australian wells stopping production soon, a multi-billion decommissioning market emerges

Australia is about to see its largest-ever wave of offshore development wells that reach the end of their producing life and need to be decommissioned. A Rystad Energy report shows that Australia’s number of such wells will jump from 160 today to more than 440 by 2026, with a further 172 offshore exploration wells waiting in the queue.

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