Oil platform decommissioning set to boom in Europe, says ABS

Europe’s Basel 1992 Basel convention and subsequent 2019 provision categorise these as ‘waste,’ and prevent them from being exported to countries outside the EU for dismantling. Meanwhile, the IMO Hong Kong Convention, due to enter force next year, raises safety standards for scrapping in general, and specifies that an inventory of hazardous materials (IHM) must be taken before dismantling.

With the sector set to become enormous over the next 40 years, experts predict that around 600 installations will need to be decommissioned in the North Sea alone. Meanwhile, EU border policies are liable to drive up demand for recycled steel, a low-carbon alternative to predominantly virgin steel sourced from Chinese foundries, and readily sourced from existing offshore installations. “This is a big market and we need a lot of support from many, many companies, working integrated and working as a team,” explained ABS offshore business development director, Patricia de Almeida.