Australia is about to see its largest-ever wave of offshore development wells that reach the end of their producing life and need to be for decommissioned. This task is both adding headaches for producers and creating a multibillion-dollar opportunity for plugging and abandonment (P&A) suppliers. A Rystad Energy report shows that Australia’s number of such wells will jump from 160 today to more than 440 by 2026, with a further 172 offshore exploration wells waiting in the queue. The Australian decommissioning market may exceed a total of $40 billion due to the country’s sizeable offshore P&A liabilities and its ... (full story)