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 decommissioned, according to energy intelligence firm Rystad Energy.
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.
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