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On the applicability of the Wood Review recommendations for Norwegian decommissioning

Author

Listed:
  • Rune Vikane
  • Jon Tømmerås Selvik
  • Eirik Bjorheim Abrahamsen

Abstract

The Wood Review (2014) is a comprehensive review of the regulation and stewardship of the UK petroleum industry. It identifies and addresses key challenges facing the UK, among them the lack of a strong regulatory body and a decommissioning strategy. The UK Continental Shelf is a mature region, and lessons learned in UK decommissioning may help other nations such as Norway meet future decommissioning challenges. In this paper the applicability of the Wood Review recommendations for decommissioning in Norway is investigated through a SWOT-analysis. Decommissioning of offshore infrastructure is a major task, and minor improvements may have a substantial impact on personnel risk, environmental risk, and the total decommissioning expenditure. The Norwegian regulatory regime has been an integral part of the Norwegian petroleum industry's success in previous decades, and regime change requires careful deliberation. The analysis indicates Norway and also other countries may benefit from adopting several of the UK initiatives originating from the Wood Review recommendations.

Suggested Citation

  • Rune Vikane & Jon Tømmerås Selvik & Eirik Bjorheim Abrahamsen, 2024. "On the applicability of the Wood Review recommendations for Norwegian decommissioning," International Journal of Business Continuity and Risk Management, Inderscience Enterprises Ltd, vol. 14(4), pages 327-354.
    • Handle: RePEc:ids:ijbcrm:v:14:y:2024:i:4:p:327-354
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