North Sea oil producers must accelerate well closures as fields decline. The North Sea Transition Authority (NSTA) warns operators need to "massively increase" decommissioning pace to address stagnant progress on 500+ old wells past original deadlines. Over the past year, 114 wells reached final abandonment status, up from 103 in 2024.

The NSTA requires companies to close an additional 1,000 wells within five years. Challenges include rising costs and equipment competition, with the average cost at £500,000 per well. Major players like BP and Shell face significant liability burdens. En Quest received a fine of £16.5mn for inadequate decommissioning of 33 inactive wells.

The transition authority notes that decommissioning spending will exceed capital spending from 2029, projected to reach £3.3bn in 2027.