Decommissioning to step up a gear with new regulatory regime

摘要

A PIONEERING decommissioning tender by state-controlled Petrobras, plus the promised publication in October of a new set of regulations on the topic, mean Brazil is closer to getting started on an under-developed part of its offshore industry, writes Gareth Chetwynd. Outdated regulations have created uncertainty about decommissioning costs, responsibilities and practices, slowing important projects such as asset sales and field life extensions. The most prominent case was Shell's attempt to sell the Bijupira Salema field to Brazilian independent PetroRio in 2016, where uncertainty about decommissioning guarantees and costs scuppered the transaction.