National Economy
Tuesday, September 9, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home Business

Oil Giants Implement Cost-Efficiency Measures for Project Efficiency

by Chika Izuora
2 years ago
in Business, News
Reading Time: 2 mins read
oil
Share on FacebookShare on TwitterShare on Telegram

You May Like

JAMB Uncovers 4,251 Fingerprint Frauds, 192 AI Impersonations

Nigerian Firms Allocate 30% IT Budgets To Privacy Protection

Global oil companies are keying into new measure that will drive protect efficiency through significant cost reduction.
Cost-efficient decommissioning has received a significant boost with the relaunch of a bigger, better digital data dashboard providing vital information about upcoming work to potential suppliers.
The Decommissioning Data Visibility Dashboard now includes; field-specific information from 15 operators, compared with three when it was piloted by the North Sea Transition Authority (NSTA) and the Decommissioning and Repurposing Taskforce (DaRT) in November 2021.
Participating operators include bp, CNOOC International, CNR International, Dana Petroleum, ENI UK, EnQuest, Harbour Energy, Neptune Energy, One-Dyas, Repsol Resources UK, Shell, Spirit Energy, TAQA, TotalEnergies and Waldorf Production.
The interactive dashboard gives suppliers the confidence to invest in technologies and training by reducing the uncertainty and lack of transparency around the timing of decommissioning activities.
It showcases a wide range of information about companies’ UK Continental Shelf decommissioning portfolios, including much sought-after work schedules.
Using data from the annual UKCS Stewardship Survey, it shows how many wells, subsea structures and pipelines the companies plan to decommission – and the weight of platforms to be removed – over the next five years.
Publishing this information encourages early engagement between operators and suppliers and helps service providers understand what skills and resources will be in demand.
In addition, operators can use the data to identify opportunities to decommission wells together through campaigns which can help deliver savings.
In the face of competition for services from other regions and sectors, effective planning is vital to ensuring that resources are available at the right time and projects are carried out cost-efficiently.
This supports industry’s efforts to lower the cost estimate for decommissioning UKCS oil and gas infrastructure by 10% to £33.3 billion by end-2028, reducing the burden of tax relief on the Exchequer and freeing up funds which can be invested in energy security and net zero projects.
The dashboard complements the NSTA’s Energy Pathfinder portal, which advertises near-term contracting opportunities for energy supply, low-carbon and decommissioning projects in the UK.
NSTA head of Decommissioning and DaRT Co-Chair, Alastair Bisset, said: “Suppliers need to know when decommissioning work is going to happen so that they can invest with confidence and plan effectively. The dashboard was created to help plug this knowledge gap, so it is very satisfying to see this group of leading operators put their weight behind it.”
Tags: CNOOC InternationalCNR InternationalDana PetroleumENI UKEnQuestHarbour EnergyNeptune EnergyOne-DyasRepsol Resources UKSHELLSpirit EnergyTAQATotalEnergiesWaldorf Production.
ShareTweetShare
Previous Post

GE Vernova Supports Nigeria’s Sustainable Energy Transition

Next Post

‘National Grid Will Receive Excess Power From Geometric Power Plant’

ANOTHER GOOD READ

JAMB Uncovers 4,251 Fingerprint Frauds, 192 AI Impersonations
Business

JAMB Uncovers 4,251 Fingerprint Frauds, 192 AI Impersonations

5 hours ago
Business

Nigerian Firms Allocate 30% IT Budgets To Privacy Protection

5 hours ago
NABTEB Reviews 26 Trade Syllabi To Upgrade Technical Colleges
Business

NABTEB Reviews 26 Trade Syllabi To Upgrade Technical Colleges

5 hours ago
Banks Slash Loans To Manufacturers By 26%, Lending Falls To N8trn
News

Nigerian Businesses Struggle As Loan Interest Rates Hit 36%

6 hours ago
Nigeria Publishes New Tax Reform Laws, Exempts Small Businesses
Business

Nigeria Publishes New Tax Reform Laws, Exempts Small Businesses

6 hours ago
Pension Operators Sensitise Young Professionals On Cancer Awareness
Business

Be Fair, N’Assembly To Pension Bureau

6 hours ago
Next Post
Federal Gov’t To Pay N1.6trn Electricity Subsidy As DisCos Unveil New Tariffs

'National Grid Will Receive Excess Power From Geometric Power Plant'

Most Recent

JAMB Uncovers 4,251 Fingerprint Frauds, 192 AI Impersonations

JAMB Uncovers 4,251 Fingerprint Frauds, 192 AI Impersonations

September 9, 2025

Nigerian Firms Allocate 30% IT Budgets To Privacy Protection

September 9, 2025
NABTEB Reviews 26 Trade Syllabi To Upgrade Technical Colleges

NABTEB Reviews 26 Trade Syllabi To Upgrade Technical Colleges

September 9, 2025
Banks Slash Loans To Manufacturers By 26%, Lending Falls To N8trn

Nigerian Businesses Struggle As Loan Interest Rates Hit 36%

September 9, 2025
Nigeria Publishes New Tax Reform Laws, Exempts Small Businesses

Nigeria Publishes New Tax Reform Laws, Exempts Small Businesses

September 9, 2025
Pension Operators Sensitise Young Professionals On Cancer Awareness

Be Fair, N’Assembly To Pension Bureau

September 9, 2025
Nigerian Firms Disburse N927.6bn Dividends In H1 2025

NGX Opens Week On Bullish Note, Gains N263bn

September 9, 2025
Cardoso Reaffirms Commitment To Banking Sector Recapitalisation

Cardoso Reaffirms Commitment To Banking Sector Recapitalisation

September 8, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy