- Unlike in Western regimes such as in the Gulf of Mexico and the North Sea, where abandonment provisions are already in place so the last operator holding the asset does not have to pay all the decommissioning costs, the rules in Southeast Asia are much less developed.
- A dispute between Chevron and the Thai government over the cost of decommissioning the giant Erawan field underscores the risks for operators in the region as assets near the end of their lives.
- Whilst the opportunities for the international service sector are potentially enormous it is difficult to envisage that these opportunities can be realised until regulatory frameworks are in place that enable appropriate finance to be made available, Peter Godfrey, managing director Asia Pacific at The Energy Institute, told Energy Voice.
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