Maximising North Sea recovery by securing decom costs
Mark McAllister, Chairman, The Decommissioning Company
At The North Sea: Should I stay or should I go?
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Speaker’s Biography
Mark McAllister has been Chairman of TDC since its foundation in 2011. He began in the industry in 1979 as a Petroleum Engineer with Conoco. Mark has held senior positions in some of the most successful UK independents, including Monument Exploration (Director of Operations) and LASMO (Managing Director, Europe & North Africa). Since 2001, he has founded two independents which have played signi cant roles in the rationalisation of the North Sea and pioneered a new marine heavy-lift technology aimed at the decommissioning market. In 2009, Mark was awarded an Honorary Doctor of Technology from Robert Gordon University in recognition of services to the oil industry.
Need to know
North Sea Operators are forecast to spend over $100bn on decommissioning over the next 30 years. The decommissioning challenge is complex including financial security provision, OSPAR derogation applications, regulatory and tax implications and technology development. The Decommissioning Company (TDC) was created in 2011 to provide Operators with solutions to these challenges. TDC is the marketing agent for the Twin Marine Lifter (TML) technology to the North Sea decommissioning market. TML is funded by Shandong Twin Marine (SDTM) and will be available for use in 2020. TDC offers Operators a fixed price package for platform removal well in advance of the event with an insurance product underwritten by Munich Re.