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The true scale of decommissioning liabilities across the oil and gas industry pose serious risks for investors, policymakers and regulators. Key to understanding these liabilities is data. Transparent, accessible, and well-structured data is essential, with gaps translating into blind spots for the market and for regulators. Our latest Substack is by Daylon Howell, Data and Analytics Lead at Redwater Insights. Read his piece to further understand the importance of data and all the questions you need to answer when turning raw information into useful insight when properly analysing decommissioning liabilities risk. https://lnkd.in/eVC6eb2k

Really enjoyed my time chatting to Sam Morgan for the FORESIGHT Climate & Energy podcast focusing on oil and gas decommissioning in the North Sea. Ensuring industry undertakes urgent - and overdue - decommissioning in the North Sea presents a massive opportunity. Our recent Redwater Insights report shows that urgent clean-up work would deliver 25k UK jobs, create £15 billion in economic benefits, and be a vital skills bridge for 15,000 oil and gas workers currently facing the cliff edge. But the window is closing. Our report findings should be a wake up call. https://lnkd.in/eeeCsFuy

Pleased to see the reception from Redwater Insights first major commissioned UK report. Researchers focused on North Sea asset retirement obligations - specifically the employment and economic benefits from an urgent, and already overdue, decommissioning programme in the mature basin. The report showed urgent decom work could deliver 25k UK jobs, create £15 billion in economic benefits, and provide a crucial skills bridge for 15,000 oil and gas workers currently facing the cliff edge. The report should serve as a wake-up call to industry and government. A big thanks to our expert economic consultants Paul Keenlyside and Jana-Maria Albrecht. Full report here: https://lnkd.in/g3yhCnm7

Urgent decommissioning in the North Sea could deliver 25,000 jobs a year for UK workers. That’s the headline from a new report published today, the first UK analysis to properly map the economic impact of oil and gas decommissioning in the mature basin. This work isn’t optional. Around 500 wells are already overdue for decommissioning and another 1,700 will be due by 2032. Workers are central to this. And urgent action is required to ensure decommissioning can create a skills bridge for 15,000 oil and gas workers currently facing the cliff edge of employment. Currently regulators keep approving delays, infrastructure keeps degrading, and the window to capture this opportunity keeps narrowing. We need urgent action from Government, regulators and most importantly from operators who are legally obliged to ensure their wells are cleaned up properly. https://lnkd.in/eKNkaYjx

New analysis warns delays to North Sea clean-up could push jobs overseas and increase costs for taxpayers. Done properly, North Sea decommissioning could support up to 25,000 jobs a year, deliver £6.8bn in direct economic benefit, and give 15,000 experienced offshore workers a bridge rather than a cliff edge. The work is already overdue. The opportunity won’t wait. Read the first of its kind report detailing the risks and opportunities here: https://lnkd.in/e4BeCUgh

New analysis warns delays to North Sea clean-up could push jobs overseas and increase costs for taxpayers. But delay isn't inevitable. Done properly, this could mean: • Up to 25,000 jobs a year • 15,000 careers extended rather than ended • £6.8bn in direct economic benefit • £25.6bn of work that could stay in the UK The report sets out what needs to happen to capture it. Read the full analysis: https://lnkd.in/e4BeCUgh