The UK government will bear a large part of the £53 billion ($64.53 billion) cost of decommissioning ageing North Sea projects as, under current regulations, oil and gas companies are set to gain multi-billion pounds in tax relief, according to energy research group Wood Mackenzie.
Research from WoodMac suggests that winding down projects off the UK will cost £11 billion over the next five years alone, weighing on operators, oilfield services companies, and prospective asset buyers and sellers.
However,
