A paradigm shift in drilling and well construction
Globally, operators are faced with a large volume of wells, that require plug & abandonment, and they are now realizing that these wells have not been constructed to accommodate risk free, CAPEX effective P&A.
Couple this to ever stringent local regulations, operators' P&A costs have significantly increased and can range from USD 4 million for a single platform well and up to USD 12 million for a single subsea well.