Optimising Offshore Structures Decommissioning - A Multicriteria Decision Approach

Abstract Decommissioning activity is being delayed due to cash flow constraints in most companies, others are taking advantage of the low oil prices to expedite decommissioning activity as some associated cost becomes cheaper. Nevertheless, decommissioning is an emerging and growing market. There is a forecasted increase in global decommissioning projects from about $2.4 billion in 2015 to $13 billion per year by 2040, with an estimated 2000 offshore structures to be decommissioned between 2021 and 2040. These costs are very high considering decommissioning is an activity that does not necessarily bring in an income to producing companies. Thus, companies are seeking ways to optimize the process of decommissioning so as to reduce overall cost. This work identifies and evaluates the various decommissioning options and criteria for decision making and proposes a multicriteria decision making approach that will optimise decommissioning process and efficiency savings.