New Decommissioning Fund for Scotland

The Scottish Government has announced a new £5m fund aimed at helping Scottish companies to take advantage of opportunities in the decommissioning sector, reports Standard Club in a new web alert. The Decommissioning Challenge Fund is intended to support infrastructure upgrades and innovation in salvage and transport methods at Scotland’s ports and harbours.

There are some 95 platforms and more than 7000 km of pipeline scheduled for decommissioning in the UK continental shelf over the next 10 years, during which the decommissioning spend is likely to exceed £17.5bn. About 1,500 wells are to be plugged. Standard Club noted that last year Scottish Enterprise and Highlands & Islands Enterprise launched a Decommissioning Action Plan. The fund will become