The next wave of opportunity for Malaysian oil and gas (O&G) players could be in an unlikely space – decommissioning work.
Some US$100 bil worth of decommissioning jobs are available in the Asia-Pacific region over the next decade. According to research firm Wood Mackenzie, nearly 2,600 platforms and 3,500 wells in more than 380 fields are expected to cease production.
Studies have shown that artificial reefs—which is what some offshore oil rigs have become —can be reconfigured to cultivate a limestone substrate on which coral can grow. Corrosion protection systems commonly used on offshore oil and gas facilities can cause growth of limestone on metal. This was discovered more than 40 years ago and has been used for artificial reef projects around the world. Two of the largest such reefs are in Indonesia, on the northwest coast of Bali, and at Gili Trawangan on the northwest coast of Lombok.
Technical Waste Services (TWS) were contacted by a large Oil and Gas company based out of Southeast Asia. The remit was simple to provide independent consultancy for an Oil well decommissioning project off the coast of West Africa. The pipelines were expected to contain NORM built up over the life of the Well.