The Regulation of Decommissioning, Abandonment and Reuse Initiatives in the Oil and Gas Industry: From Obligation to Opportunities
The book provides a comprehensive description and critique of the key issues that must be addressed by nations, and of the current international, regional, and national law and policy in this field. With thousands of offshore oil and gas platforms in place across the globe, the decommissioning of these ageing installations is becoming of increasing concern to regulators, industry and other stakeholders in the marine environment.
Flyer: regulation of decomissioning
Editor: Catherine Banet
This book elucidates current initiatives aimed at maximising reuse and repurposing opportunities, such as wind power, hydrogen, carbon capture, and storage by analysing the relevant law and practices of selected oil- and gas-producing nations.
Systematic review of international and national decommissioning law and practices
All applicable international and regional conventions with provisions on decommissioning are discussed, including the ASEAN Guidelines on Decommissioning, the Geneva Convention on the Continental Shelf, the United Nations Convention on the Law of the Sea, the International Maritime Organization Guidelines, and the North-East Atlantic OSPAR Convention.
Capitalising on the good decommissioning practices adopted by such distinguished jurisdictions as the United States, the United Kingdom, and Norway, the book delves deep into such key complex and topical issues as the following:
- decommissioning provisions in operating agreements;
- agreements on decommissioning security;
- dispute risks;
- the challenge of residual liability;
- tax treatment of decommissioning;
- environmental, health, and safety; and
- creating reuse incentives and enabling energy system integration.
The book concludes with a chapter that summarises the issues and topics and suggests future policy and legal directions which could guide governments and parties when developing decommissioning policies, law, and agreements.