Decommissioning in the UK Continental Shelf: Decommissioning Security

    View Authors October 2016
    This insight examines the concern that the decrease in the oil price will lead to insufficient security to cover the liabilities of the parties to UK oil platform decommissioning projects. It discusses the industry's use of decommissioning security agreements, outlines why oil price fluctuations have implications for decommissioning security, and analyses the issues that might give rise to disputes, assessing the role of expert determination in this area.
     
    This article was originally published in the 2016 International Energy Law Review (I.E.L.R.) journal.