“Plug and abandonment represents an opportunity for NODE-companies to tap into a new and growing market”, says Mads Grinrød. A drilling technology veteran, Grinrød provides insights into P&A for NODE-companies at a mini seminar in Kristiansand June 10th.
An estimated 3,000 wells are to be decommissioned in the Norwegian sector alone in the future. Costs are expected to exceed BNOK 876, which includes full time use of 15 oilrigs for 40 years, given current technology.
“This is an unacceptable high cost. The oil and gas industry will have to provide new, better and more cost-efficient solutions”, says Grinrød.