Sustainable recycling of mooring ropes from decommissioned offshore platforms.

Decommissioning offshore Floating Production, Storage and Offloading (FPSO) platforms requires extensive technical knowledge, since it generates different post-consumer materials, including mooring lines. These ropes are made from polyester high tenacity yarn, based on polyethylene terephthalate (PET), and their high added value means they should not be discarded as scrap. This paper aims to present a review and technical opportunities, from an economic standpoint, of recycling the mooring lines recovered from decommissioned FPSOs. Studies conducted over the last two years have researched and developed different potential applications for the fibers. These studies include collaborative project initiatives involving technical and management professionals, universities and private enterprises, with a view to achieving a more sustainable destination for these fibers.

Asset Decommissioning Risk Metrics for Floating Structures in the Gulf of Mexico.

Public companies in the United States are required to report standardized values of their proved reserves and asset retirement obligations on an annual basis. When compared, these two measures provide an aggregate indicator of corporate decommissioning risk but, because of their consolidated nature, cannot readily be decomposed at a more granular level. The purpose of this article is to introduce a decommissioning risk metric defined in terms of the ratio of the expected value of an asset's reserves to its expected cost of decommissioning. Asset decommissioning risk (ADR) is more difficult to compute than a consolidated corporate risk measure, but can be used to quantify the decommissioning risk of structures and to perform regional comparisons, and also provides market signals of future decommissioning activity. We formalize two risk metrics for decommissioning and apply the ADR metric to the deepwater Gulf of Mexico (GOM) floater inventory. Deepwater oil and gas structures are expensive to construct, and at the end of their useful life, will be expensive to decommission. The value of proved reserves for the 42 floating structures in the GOM circa January 2013 is estimated to range between $37 and $80 billion for future oil prices between 60 and 120 $/bbl, which is about 10 to 20 times greater than the estimated $4.3 billion to decommission the inventory. Eni's Allegheny and MC Offshore's Jolliet tension leg platforms have ADR metrics less than one and are approaching the end of their useful life. Application of the proposed metrics in the regulatory review of supplemental bonding requirements in the U.S. Outer Continental Shelf is suggested to complement the current suite of financial metrics employed.