Scotland provides £1.1m for oil and gas decommissioning

Seven oil and gas decommissioning projects across Scotland have been awarded a share of £1.1 million. The first round of awards from the Decommissioning Challenge Fund aims to improve port […]

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By Jonny Bairstow

Seven oil and gas decommissioning projects across Scotland have been awarded a share of £1.1 million.

The first round of awards from the Decommissioning Challenge Fund aims to improve port and shipyard infrastructure to make North Sea decommissioning easier, cheaper and more effective.

The scheme has offered grants to initiatives in Methil, Montrose, Ardersier, Stornoway, Hunterston and Dundee, the latter being the site where the UK’s largest permanent quayside crane will be installed.

Projects for the second round of funding are now being considered for grant offers, with six projects potentially sharing £1.4 million – this includes two specialist decommissioning equipment projects in Shetland.

Scottish Economy Secretary Keith Brown said: “Companies across the supply chain are actively engaged in decommissioning projects, with Scottish based firms having secured more than half of the value of contracts awarded.

“Our Decommissioning Challenge Fund is a clear signal to the market to think seriously about decommissioning – a market forecasted to be worth £17 billion by 2025 – and to plan and invest accordingly.”