AACE HGCS November 9, 2022 Meeting

Estimating Decommissioning Projects

Decommissioning facilities is the process of removing the infrastructure and equipment once the facility has reached the end of its useful life.  Decommissioning of oil and gas facilities, both onshore and offshore, has had increasing focus with the current forecast offshore decommissioning spend of US$12 billion per annum by 2030 .  The cost of decommissioning hits the company’s balance sheet as a financial liability so attracts a high level of investor and stakeholder attention.

In this presentation we will share with you the unique complexities involved in decommissioning projects in the oil and gas industry and some key estimating methodologies to address these complexities.

Speakers

Karen Chew has more than 30 years of experience in a range of industries across the globe including oil and gas, mining, refining, power and infrastructure in both project management and estimating. 

Karen is currently leading the estimating efforts for a major oil and gas development for Woodside Energy and has been involved in estimating and cost engineering for decommissioning projects in Australia and the North Sea.  She is originally a Mechanical Engineer and was the past Secretary and Vice President for the AACEI Australian section before coming to Houston last year.

Monica Ferreira is the Principal Decommissioning Planning Engineer with Woodside Energy, supporting decommissioning planning for international projects from pre-development through to execution of decommissioning and restoration.  She holds a Master’s Degree in Decommissioning Oil Rigs, Platforms and Offshore Structures from the School of Engineering at the University of Aberdeen as well as a Bachelor of Finance and Accounting.