06/08 Decommissioning offshore oil and gas facilities

Industry contracts and security arrangements

This paper explores the two contractual agreements that oil companies typically enter into in relation to decommissioning in the UK Continental Shelf (UKCS).

It focuses on:

  • abandonment or decommissioning agreements contained in, or entered into pursuant to, a joint operating agreement (JOA)
  • the different options for companies to provide security for costs for abandonment or decommissioning

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