 On the applicability of the Wood Review recommendations for Norwegian decommissioningRune Vikane, Jon Tømmerås Selvik and Eirik Bjorheim Abrahamsen International Journal of Business Continuity and Risk Management, 2024, vol. 14, issue 4, 327-354 Abstract: The Wood Review (2014) is a comprehensive review of the regulation and stewardship of the UK petroleum industry. It identifies and addresses key challenges facing the UK, among them the lack of a strong regulatory body and a decommissioning strategy. The UK Continental Shelf is a mature region, and lessons learned in UK decommissioning may help other nations such as Norway meet future decommissioning challenges. In this paper the applicability of the Wood Review recommendations for decommissioning in Norway is investigated through a SWOT-analysis. Decommissioning of offshore infrastructure is a major task, and minor improvements may have a substantial impact on personnel risk, environmental risk, and the total decommissioning expenditure. The Norwegian regulatory regime has been an integral part of the Norwegian petroleum industry's success in previous decades, and regime change requires careful deliberation. The analysis indicates Norway and also other countries may benefit from adopting several of the UK initiatives originating from the Wood Review recommendations. Keywords: decommissioning; lessons learned; regulation; strategy; Wood Review. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ids:ijbcrm:v:14:y:2024:i:4:p:327-354 Access Statistics for this article More articles in International Journal of Business Continuity and Risk Management from Inderscience Enterprises Ltd |
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