Disposal of Petroleum Installations - Major Policy Issues

28 Pages Posted: 23 Mar 2001

See all articles by Petter Osmundsen

Petter Osmundsen

University of Stavanger; CESifo (Center for Economic Studies and Ifo Institute)

Ragnar Tveteras

Stavanger University College

Date Written: April 2000

Abstract

Following the Brent Spar controversy, the OSPAR countries reached a unanimous agreement in 1998 for the future rules for disposal of petroleum installations. The vast majority of existing offshore installations will be re-used or returned to shore for recycling or disposal. For installations where there is no generic solution, one should take a case-by-case approach. We provide a survey of international economic and regulatory issues pertaining to disposal of petroleum installations, and provide specific examples by analysing the Norwegian decommissioning and disposal policy. Optimal disposal policy can be analysed by cost-benefit analyses with distributional effects, subject to environmental and goodwill constraints.

Keywords: Petroleum installations, decommissioning, disposal, externalities

JEL Classification: D62, G18, H32, L51, L72, Q48

Suggested Citation

Osmundsen, Petter and Tveteras, Ragnar, Disposal of Petroleum Installations - Major Policy Issues (April 2000). Available at SSRN: https://ssrn.com/abstract=263819 or http://dx.doi.org/10.2139/ssrn.263819

Petter Osmundsen (Contact Author)

University of Stavanger ( email )

4036 Stavanger
Norway

CESifo (Center for Economic Studies and Ifo Institute) ( email )

Poschinger Str. 5
Munich, DE-81679
Germany

Ragnar Tveteras

Stavanger University College ( email )

PO Box 2557
4004 Stavanger
Norway

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