Australia ponders $53 billion problem of how to remove ageing offshore rigs

South Africa News News

Australia ponders $53 billion problem of how to remove ageing offshore rigs
South Africa Latest News,South Africa Headlines
  • 📰 The Straits Times
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 63%

There is debate about whether firms should remove the rigs entirely or leave parts of them in place.

The first area to be cleared of rigs is being conducted by Esso, a subsidiary of American resources giant ExxonMobil.

This has led to debate about whether firms should remove the rigs entirely or be allowed to leave some of the underwater infrastructure in place. It said it has already spent A$1 billion on decommissioning work, including plugging more than 120 wells connected to its rigs. Resources firms, which are required to pay for the decommissioning, face enormous bills over the coming decades as their rigs come to an end.

Roughnecks putting drill bits in place while drilling for gas on an offshore rig off the north-west shelf of Western Australia. PHOTO: BLOOMBERG In Malaysia, for instance, an old rig off the north-eastern coast of Borneo has been turned into Seaventures, a 41-room hotel for divers, complete with a restaurant, bar and games room and easy access to a coral reef.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

The Straits Times /  🏆 8. in SG

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Surfer’s leg washes up on shore in Australia after shark attackSurfer’s leg washes up on shore in Australia after shark attackThe severed leg was also taken to the hospital in case doctors were able to reattach it.
Read more »

Defending champion Jalolov on course for early clash with Australia's TeremoanaDefending champion Jalolov on course for early clash with Australia's TeremoanaPARIS : Defending super heavyweight champion Bakhodir Jalolov was drawn in the same quarter as Australian Teremoana Junior after the draws for the boxing tournament at the Paris Olympics were made at the North Paris Arena on Thursday.
Read more »

Australia's Winnington savours hard-won silver after Tokyo wipeoutAustralia's Winnington savours hard-won silver after Tokyo wipeoutPARIS : After crashing out of the 400 metres freestyle final at Tokyo and falling into a mental tail-spin, Australia's Elijah Winnington found peace on Saturday as he secured silver in the event at the Paris Games.
Read more »

Australia PM replaces immigration, national security ministersAustralia PM replaces immigration, national security ministersSYDNEY: Australian Prime Minister Anthony Albanese on Sunday (Jul 28) replaced the government ministers responsible for immigration and national security, overhauling the scandal-plagued portfol
Read more »

Australia Olympic team aware of alleged rape of Australian woman in ParisAustralia Olympic team aware of alleged rape of Australian woman in ParisPARIS : The Australian Olympic team is aware of allegations by an Australian woman that she was raped in Paris, the team's chief said on Tuesday, urging the nation's athletes to take extra care during the Paris Games amid heightened security concerns.
Read more »

Australia Olympic team aware of alleged rape of Australian woman in ParisAustralia Olympic team aware of alleged rape of Australian woman in ParisPARIS : The Australian Olympic team is aware of allegations by an Australian woman that she was raped in Paris, the team's chief said on Tuesday, urging the nation's athletes to take extra care during the Paris Games amid heightened security concerns.
Read more »



Render Time: 2025-02-25 05:00:48